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Updated about 2 years ago,
First time investor Advice - Industrial Cannabis opportunity
Hi all, I am not very active on BiggerPockets but wanted to come and ask for some advice on a situation I am in. As the title says I am a first time investor and recently established my LLC but don't have the REO or Bank Statements to show lenders to qualify for a hard money loan. Along with the lack of bank statements, there aren't very many REAL lenders who will lend towards cannabis. I have found a reliable lender who can offer reasonable rates for a risky industry but I need a partner who has the bank statements to qualify. The partner would then receive 5% equity in the property.
I realize this is an unusual request but wanted to know if anyone has had any experience with brining in a partner to qualify for a commercial loan.