Need Help With Commercial Property
hi all,
i recently had a commercial property in texas 8 unit two stores in the front , i ran into a lender that said they could get 10% down . me being the newbie i am accepted a waited and waited. he finally got back saying hey he could not do it and all commericals are 80 to 20 split. i felt miserable any ideas ? i had an inspection and other work costing me money. they say you learn the hard way. guess i did ..also any ideas on finding a good lender in texas who works with you and not against you ? i could use one in ny too. i found many loan officers are not creative and do not understand what the investor or buyer needs ..... :-?
Nobody can directly refer you to a loan company or person. Its against the rules. You should try the lenders tab, there are people that do the 10% down. The less you put down though the higher the interest rates.
My guess would be about 10% of the mortgage brokers I have dealt with can both do what they say, and get creative. Good Luck in your quest.
Kyle
Appreciate the info Kyle will check out the tab i thought it was doable and you reinforced that and will proceed to find someone to work with .........