Need Help Structuring 8 Unit + Three Retail Deal
I am looking for advice to structure a commercial deal that I'm analyzing. The owner is asking for 359k and I'm sure I can get it for 330k. The numbers work out great.
The problem is that I am in the middle of a rehab. When completed in two months, I will cash out nearly 50k off of the refi. Then, and only then, will I have the capital available for 10% down. I know I need to ask the seller to hold a 10-15% second, but I have a few questions.......
Should I have a problem finding a lender who will lend 80% with an additional 10% held by the seller?
And what is the best way to tie this property up for a while to get it off of the market while reducing my risk of losing any deposit or option money?
All of your help is appreciated.
and 80/10/10 from a std. commercial lender might be tough.
an option to buy or a purchase agreement with longer enough contingency period and or a nominal deposit, are a way to tie it up
bird dog the deal
get a LOC on the improved value of your current project to create the down for the next.