Commercial Loans - Augusta, GA

[Jaime Powell]

I have a client interested in a property with 11 units, and he's looking for a commercial loan. The issue is he needs one with 10% down vs. the 20% that we're finding, if that exists. Any suggestions? The property is in Augusta, GA. Thanks!

[Simmy Ahluwalia]

@Jaime Powell - hey, we are based in the ATL, and I've closed several loans (fix/flip, rental, STR) in the Augusta market.

So, you are correct, 9 times out of 10, a client is going to need 20% cash down on a 5+ asset plus fees, closing costs, etc...

If you can get the seller to take a 2nd position for let's say 40%, then we would come in 1st at 50%, the seller at 40%, and your buyer at 10%.  Lots more to this, but this is a potential structure.