How Do I Finance Comm. Property With Only...
How do finance commercial property with only 5-10% downpayment? My partner and I can handle about 10%, but I keep hearing from Lenders "We must have 20-25% down" Please advise. 
How do finance commercial property with only 5-10% downpayment? My partner and I can handle about 10%, but I keep hearing from Lenders "We must have 20-25% down" Please advise.
You need to first create a Loan Project in your My TCI > My Loan Project area, then our TCI Preferred Lenders can help you.
Depending on your project, they can finance up to 90% LTV.
Hello Sr.
90% LTV is now available for Tier 1 and Tier 2 property type for loan amount up to 1MM. If you need more details you can apply into this web and one of the prefere lender will help you.
Sincerely
tci_Met-West1
Quote:
On 2005-07-22 14:40, Gfandrei wrote:
How do finance commercial property with only 5-10% downpayment? My partner and I can handle about 10%, but I keep hearing from Lenders "We must have 20-25% down" Please advise.
I would get the written comments of a few impartial people attesting to the smell. Then have the carpet & pad replaced. Apply the security deposit to the bill, if insufficient, sue tenant in Small Claims court.
You said yourself that the carpet was clean and you couldnt find any stain so you cant really use the deposit to buy a brand new carpet.
some professional carpet cleaners guaranty removing pet odors. look up one and hire them to reclean. Make sure they confirm in writing that there was a strong pet odor prior to starting the job ( in case the tenant argues that there was no smell). deduct the cost from the security deposit.
If the carpet looks clean its possible that the smell is not in the carpet but in the flooring under the carpet. This is especially true if the floor is concrete or unfinished plywood. Some kind of enzyme anti-odor product is in order. The question is whether the carpet will have to come out and be replaced as well.
Some people say that the o-zone machines also do well with eliminating these kinds of odors. But I have no personal experience with them.
Tell me more about the no money down. Are you talking about 100% financing, what kind of rates do you offer?
Hello,
I seriously doubt that you will find 100% financing for investment properties. My lending company only offers 90% which is typical. You may find it out there but I have not seen anything myself... especially with stated income/no doc loans.
Remember even with 100% financing there are still closing cost!
Obviously, you will need to find property well below actual value in order to refi w/ cash out. Remember a BIG part in being able to do so will depend on your FICO scores since you will be doing stated income. Keep in mind not to have creditors running your credit unless it is absolutely needed.
As far as demographics... I know that Floridas property value is increasing significantly and no signs of slowing down, as well as Arizona. This is still being able to get decent land without paying outrageous prices.
I have a few clients in FL buying lots and constructing new multi-family homes where there were mobile homes previously and the property value has tripled!
Best wishes for you and your endevours!
[addsig]
I have been investing with a developer that has preffered 3rd party lenders that will do 100%, and the developer offers a optional 24 month leaseback equal to 15% of the sales price to cover all your payements for 2 years. The lenders can do 100% because we purchase below appriased values. I found them at www.waterfrontresortinvestments.com, hope this helps?
Best