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Updated over 1 year ago on . Most recent reply

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13
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5
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William Lu
  • Santa Barbara, CA
5
Votes |
13
Posts

Having Trouble Finding a Loan for an Out of State Commercial Property

William Lu
  • Santa Barbara, CA
Posted

I live in California and found an off market deal for a commercial property in a different state. I plan on renting it out. 

However, I am having trouble finding any lenders. 

*BoA says they don't do commercial loans for commercial investment properties, only for businesses. 

* I tried contacting a local mortgage broker, but she didn't find anything .

* Local credit union is out of the question because I don't live in that state.

Any tips on finding a lender would be much appreciated.

Most Popular Reply

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17,848
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Chris Seveney
  • Investor
  • Virginia
15,357
Votes |
17,848
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Chris Seveney
  • Investor
  • Virginia
ModeratorReplied

@William Lu

What type of commercial property is it? Is it occupied? What’s the use?

Need more info on property to try and provide you with a place to go

  • Chris Seveney
business profile image
7e investments
5.0 stars
16 Reviews

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