Homeowner looking to Buy Commercial

[Meli'sa May]

Hi Everyone,

I closed on my first multi-family home 2 month ago. My mortgage is basically being paid for by my tenant. I am now looking into the possibility of purchasing commercial/retail property and am not sure where to start. I am saving of course and I am familiar with the purchase process of a residential property but i'm not familiar with commercial/retail side. I bought my home through FHA only put 3.5 down so this was a fairly easy transaction. Are there any similar programs for those who are purchasing commercial/ retail? I would love to know of any loopholes or strategies people have used who may not have the means to put down a huge sum of money in order to make this a reality.

Thanks in advance I really appreciate any helpful feedback!

[Tyson Taylor]

Hi @Meli'sa May,

Unfortunately, I'm not aware of anything that'll help you out.  All the commercial deals I've seen take more cash (25%) and more collateral.  

I'm curious to hear from lenders though, as I'm interested in more commercial property myself...