Connect with a Lima One expert today!
If you’d like to know more about this topic or see how it applies to your project, let’s talk.
Hobbs NM – Rental Refinance
Lima One refinanced four rental properties in Hobbs, New Mexico, to help an investor avoid a balloon payment.
By the Numbers:
$442,000
Loan Amount
$884,000
Appraised Value
50%
Loan-to-Value Leverage
4
Properties
The Opportunity
A New Mexico rental investor wanted to refinance four properties he owned on the same street in Hobbs, New Mexico, near the Texas border.
He had balloon payments coming due on his current investment property loans on the properties and wanted to refinance into permanent financing. He reached out to Lima One, which had financed two other New Mexico rental properties for him.
The Solution
Lima One provided the investor with four low interest-rate loans on the properties, paying off the note to avoid the balloon payment without pulling any equity out of the properties. This 50% loan-to-value loan matched the investor’s strategy by allowing him to maximize cash flow.
Lima One’s flexible rental property loans allowed the investor to successfully execute his strategy of avoiding a balloon payment payoff while preserving equity and cash flow. With permanent rental financing in place, he can now continue scaling his real estate investment business.
Subscribe for More Insights
Get the latest industry news & Lima One updates.
