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Updated almost 1 year ago on . Most recent reply

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Vincent Gilliam
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Help with financiaing

Vincent Gilliam
Posted

Hello BP fans does anyone know how to help me get this deal done. Mixed use Property "listed" at 300k, store front not rented and unfinished. No commercial experience, want to use it as an event space. 2 unfinished apartments, 1 airbnb finished. Can't find Financing. Any suggestions or options, Please

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Charles Carillo
  • Rental Property Investor
  • North Palm Beach, FL
1,915
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Charles Carillo
  • Rental Property Investor
  • North Palm Beach, FL
Replied

@Vincent Gilliam

I would suggest speaking to local banks, and credit unions. Whenever I am having an issue with financing, I normally reach out to local institutions. They are much more reasonable and are more intertwined in a community than some lender states away. The credit committee is usually made up of local people who are familiar with the market they are in. Lastly, they like building relationships. Once you find a lender that finances properties similar to yours, start building a relationship.

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