Commercial / Residential long-term replacing contract for deed

[Alex Gold]

Hello,

I own a commercial property (including a residence) via a contract for deed.

I currently rent it to two of my other companies (which have paid rent faithfully since I got the property in March 2020) but I am looking to convert to a more typical mortgage-type loan before the contract for deed reaches a balloon payment. 

I've been pursuing an SBA as a combination of all of the companies but haven't had luck yet - so I was thinking of pursuing a purely real-estate loan for the company that owns the property instead.  Not sure where to start with that.

I got a great deal on the property, far below market value, so it seems like a "no brainer" for a bank to want to finance it - but they were more concerned with cash flow from the renting companies, not the land/property itself.  Very frustrating, but I guess banks do what banks do 😅.

Thanks!
Alex