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Updated about 2 years ago,

User Stats

9
Posts
4
Votes
Kyle Fielder
  • Michigan
4
Votes |
9
Posts

Need Help Moving Foward...

Kyle Fielder
  • Michigan
Posted

My wife and I own a small business and rent a store front in our town. We were approached by our landlord with an offer to buy his property. The property includes 4 store fronts, including ours and 6 apartments above the store fronts. We have talked to our accountant and he advised us not to buy the property under our current llc and apply for a new one. The problem I'm having with that is the few banks I've called want the new llc to have been in business for certain amount of time or that they don't give loans for that sort of business. This is the first time my wife and I have done something like this and we need help moving forward  or some helpful tips. Could anyone recommend what kind of loan to get, the right questions to ask, or which bank would be the best. Also, he said he would think about seller financing but he would rather us get a loan. Any suggestions or advice will be greatly appreciated. 

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