Posted by JohnBoy on December 02, 2000 at 23:16:59:
You said you had tenants willing to lease the commercial spaces on the first floor that would bring in $4k per month. Would they all be willing to sign long term leases with a minimum of 5 years? Will they lease as a NNN (triple net lease)? Could you get first, last and one month security deposit from each tenant? On a total rental income of $4k between them, that would get $12k up front from the tenants. If you could get that from the tenants could you come up with the difference to at least get them in the building? Would your contractor work with you on that? If you don’t have the cash on hand, could borrow it from somewhere? Any credit cards you could use?