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Updated over 6 years ago, 09/27/2018
Suggestions on Commercial Lender? I Bit Off More Than I Can Chew
Hi everyone! I put together a deal and ended up with a 15K square foot, 3 floor building. There's a lot of potential with this building but it needs ALOT of work. The place needs work on the roof, electric upgraded, HVAC, etc. I need suggestions on lenders for commercial properties that would work with someone just starting out. I have tried a local bank here but my DTI and CBR scores didn't match their requirements and the loan officer wasn't very interested in even working on anything commercial. I have a few properties that I would be able to collateralize. This one is overwhelming and exciting at the same time but probably because it's a huge project to me and I'm a newer investor.
Any help pointing me in the right direction would be appreciated!