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Updated over 4 years ago,
Need money, bad credit, no savings, i do own a paid-off warehouse
I am new at this and am willing to learn... I own a vending machine business(LLC) with my parents and we also, own a warehouse for the business as well and it is completely paid off. (roughly 100k warehouse) .... is there a way to take a commercial loan out (since we own the building) and use that money towards my first property purchase, including the rehab and closing costs...etc and how does that work?
I had heard something about a commercial loan on a podcast I was listening to on Bigger Pockets and had my brain turning....cause I am struggling on getting my hands on hard money this way before I start talking to actual investors.....thanks for the help!