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Updated about 5 years ago on . Most recent reply

George T.'s profile image
George T.'s profile image
George T.
  • Rental Property Investor
  • from Amherst, NY
  • Member since Sep 26, 2016
  • Posts 40
  • Votes 17
  • Experience 10 Yrs
  • Investments 1
Connect

User Stats

40
Posts
17
Votes
George T.'s profile image
George T.'s profile image
George T.
  • Rental Property Investor
  • from Amherst, NY
  • Member since Sep 26, 2016
  • Posts 40
  • Votes 17
  • Experience 10 Yrs
  • Investments 1
Connect
George T.
  • Rental Property Investor
  • Amherst, NY
17
Votes |
40
Posts
Commercial Real Estate Investing

Seller financing on a commercial transaction

George T.
  • Rental Property Investor
  • Amherst, NY
Posted

Myself and my partner are currently under LOI for our first self-storage facility.

We have negotiated a 53% owner financing on the deal and I wanted to ask all storage professionals if you have any advice / tips for getting the remaining conventional financing from a bank / lending institution.

This is our first owner financing transaction and we would definitely appreciate any tips / suggestions from a lending side as we have started our due diligence period.

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Sam B.'s profile image
Sam B.'s profile image
Sam B.
  • Member since Feb 15, 2019
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106
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Sam B.'s profile image
Sam B.'s profile image
Sam B.
  • Member since Feb 15, 2019
Connect
Sam B.
32
Votes |
106
Posts
Sam B.
Replied

@George T.

Looking to see what other more experienced investors say but my understanding is that the bank will want first lien and a dscr of >1.2x. They will count the seller financing as debt.

2 Votes
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