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Updated over 6 years ago on . Most recent reply
Looking to buy Commercial Property
Help! I am looking at a commercial property. It is an office building that is 3 floors. Each floor has a separate owner and I am looking at owning one of the floors. There are 16 executive suites. It is a gorgeous building and is priced at $1.3M for the floor. My husband and I own our home plus have a STR that we purchased last year in Destin, FL. Between our home and our FL rental we have about a 40% debt ratio. I really want this property but don't believe we can qualify for much on a commercial loan. I have never gotten a commercial loan and need some education fast. Would love to hear any and all advice. Private lenders? Thanks!
Cristy
Most Popular Reply
Hi Stanley, thank you for your response. I tried to speak with a commercial lender after work today but they had already gone home for the day and won't return until Monday. I do plan on picking their brain as much as I can!
Cristy