Posted by Dimpil on November 05, 2003 at 05:46:02:
O commerical. You have to find the lender, even with home deals, it’s lender depended as it also depends on your scores and their guidelines.
With commerical lenders I do not deal with them very much as my broker shop deals directly with 2 local banks for commerical investments and they are based on relationships our owner has with them.
Find a broker who deals with commerical purchases. Walk thru the yellow pages and start dialing. Ask pointed questions about how many commerical loans they do a year, how long have they been dealing with commierical paper, what is the critiria etc.
I’ve read about financing 80/20 LTV with the seller holding the 20 in the form of a seller’s second.
Where can I find this type of financing?
Was it once available and not anymore?
Is it available in some parts of the country and not others?