How To Buy Or Not With Low Cash Out Of Pocket
Commercial building with laundromat 3 unit zone 2 apts+storefront 1 unit vacant separte utilities. asking price 425,000 biz income gross 143000 nets92k. it looks like the biz income is what matters most. How to structure to have to put out as little cash as possible? charges 1500 rent to biz and 650 to 1 tenant, total expenses 29k
[ Edited by personalvoice on Date 08/30/2006 ]
You will likely need 10% down on this wether it be funds or cross collateral. You may also be able to structure this as a 75% loan, 20% seller carry, and 5% down payment.
fmmp
Thank you for replying. I hope the investors in the trenches will respond and give us some insight in these deals/investments.
I am very much interested in such NN/NNN properties with investment $s. Right now 5-5.25% moneymarket rate is much more appealing though.
fmmp
Thank you for replying. I hope the investors in the trenches will respond and give us some insight in these deals/investments.
I am very much interested in such NN/NNN properties with investment $s. Right now 5-5.25% moneymarket rate is much more appealing though.