Commercial property needs repair- how to finance/ buy?

[Gina S.]

I’m new to commercial financing. I am interested in this commercial property that requires some repairs but the owner wants cash / hard/ private finance. I am assuming someone tried to purchase it but finance didn’t go through because of the repairs it needed. The property is $500k and probably needs about $50k of work. What option is there to finance this?

[Joel Owens]

Does the seller have the inspection report to share from the past buyer? Repairs might be way more than the 50k you are thinking. Might want to start there before spending all this money trying to make something work when the deal might not be workable to start.