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Updated almost 11 years ago on . Most recent reply

Andrew N's profile image
Andrew N's profile image
Andrew N
  • from California
  • Member since Mar 28, 2014
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Andrew N's profile image
Andrew N's profile image
Andrew N
  • from California
  • Member since Mar 28, 2014
Connect
Andrew N
  • California
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Buying & Selling Real Estate

Question...is it possible for me to get financing for a commercial loan?

Andrew N
  • California
Posted

I have the opportunity to buy an old motel that is currently being run as month to month rentals. Cost is $1m and grosses about $300k-$350k per year. As for me...I have great credit (800 fico) but little cash (about $40k) Owners are flexible though and may carry much of the downpayment. So would a lender even touch me with so little cash in the deal?

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