100% LTV Credit Tenant NNN Deal
I am looking at a portfolio of NNN bank properties w/ 15 yrs min left on the lease.
I have found a couple sources that will do 100% financing.
The annual debt service is say 50K/yr, and the lease brings in 55K/yr (sample numbers). One would make 5K/yr w/ no money involved. Sounds too good to be true.
Would you do this deal?
Why/why not?
Thanks.
Potential problem would be tenant breaking lease- if you can cover this eventuality (suppose two largest tenants both bailed?) then it sounds like a great deal.
Chris
Hi cjmazur,
Did you ever pursue this deal? I am thinking of doing something similar and wanted to know if you were successful.
Thanks
I assume the 100% financing days are over. What kind of skin do you have in the game on your current dealings?