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Updated almost 9 years ago,
Own 3 residential rentals... worried about funding for comercial
I own (well.. land contract) 3 single family homes. All rented and have been since I have owned them.
I am getting a great deal on my first commercial piece of rental property... from my parents. It is a 1700 sq building on Main St. in my town.
My LLC, I'm assuming since all properties are on land contract, has no debt, but no real assets either.
How would I best go about funding this commercial building? The building appraised for around 50k 5-7 years ago before many renovations, and I am paying 35k for it.
Thanks!