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Updated almost 2 years ago,
Looking for Input on My First Commercial Property Purchase
I'm looking to buy my first commercial property. It's two small lots, one with a building currently renting and one with a currently rented parking lot. I'm having a hard time getting answers from lenders on what type of loan we may use for the property. It seems like muddy waters. Do I have to have a commercial loan? Since it's only one unit per lot can I get a conventional loan?
I'm well qualified financially for the purchase but am having a hard time getting started with my funding options. Any help is appreciated by this newbie!