Posted by Mike on January 03, 2009 at 08:00:25:
With $500,000 to invest, I would stick with any NNNs that are under $1 Million. I think Auto Zones are over $2 million a pop. Walgreens are like $6.5 million and up! I would rather have 6 fast food NNN properties instead of 1 Walgreens. Fast Food also seems to be recession proof.
100% NNN financing ?? - Posted by Sukh
Posted by Sukh on December 31, 2008 at 11:01:53:
I come across one broker which is telling me 100% financing for NNN properties with 5.28% to 8.5% interest rate for 10 years. He explained some kind of Structure financing by buying Bank instruments to down payment of 10% then taking that 10 % out by way of commissions etc and use same 10% again and again . Anyone familiar with this.
Re: 100% NNN financing ?? - Posted by warren
Posted by warren on January 01, 2009 at 05:09:36:
what world do you live on – this is how people get them self in
trouble. I am a banker/lender and no one is given anyone 100% money
of any type we want to see where you are getting your money from
(proof of funds). Financing is back to the old way of doing business
you need real money now. Did the broker ask you for up front money ?
??? because that’s how he is making his down payment
Re: 100% NNN financing ?? - Posted by sukh
Posted by sukh on January 01, 2009 at 11:39:34:
Loopnet posting board from where I got this broker.
I have 500K cash in hand to invest. I am looking for NNN properties like autozone, cvs etc. Since you are Banker, could you advise TODAY’s terms for such kind of investments so that I can set my range for these kind of properties.
Re: 100% NNN financing ?? - Posted by brandoncbsre
Posted by brandoncbsre on January 02, 2009 at 01:50:31:
I would be leery of anything that sounds too good to be true. If this broker could put deals together like that any day of the week he wouldnt have time to advertise.
With $500k you will be looking at deals in the $2-2.5 million price range. This is based on the bank going 75 or 80 percent LTV. With a NNN corporate guaranteed lease you may be able to get up to a 25 year ammortization in the low to mid 6% range.
Good Luck