Please help me BP I need advice!

[Justin Taffera]

Hello all I once again for my 2nd time am turning to BP for some much Needed help. I recently past few months/year have a pretty nice chunk of money saved up. I live in Northeast PA and recently put a bid that was accepted on a beautiful 4 Unit apartment building that is already half rented out. Here comes the Problem I need help with. To purchase this investment property I have to do a commercial loan at 8% I'm fine with that and I have to put down 25% of the price I'm also more then happy with that after all this I would have about 22,000-25,000 to put money into the building and get maximum rents. Problem is I found out this week after paying 550 for the home inspection they can't do the commercial loan because I have a felony that has zero to do with money or anything like I was in a bad accident and my best friend passed away because of it. I'm currently not working witch is why I'm doing the commercial mortgage route but I have the money to put in and extra after for repairs and enough to pay the mortgage for 2 years if I ever needed to do that. If anyone can point me in the right direction or help me out anyway possible please let me know I don't wanna lose my first investment property that is perfect in my eyes! Thanks BP you guys truly Rock on here!!!

[James Mc Ree]

It looks like you collided with a lender policy.  Call other lenders, but be up-front with them about your situation so you don't spend unnecessary time or more money.  Consider hard money lenders if institutions won't deal with you.