Commercial loan nightmare...last resort looking for help!

[Abe Osman]

Hey guys,

Long story short, I finally find a property that will work for by business, but as is the norm (in my experience) with Commercial RE, the seller is an old inflexible guy that wants it quick and easy. He says he will carry but wont go in 2nd place (which basically means he wont carry). The property has is zoned all commercial and has 3 separate parcels. 2 of the parcels have 1 commercial building each and the 3rd parcel has a SFR. There is problem #1 the SFR violates the 51% SBA rule and for some other reasons I really cannot go the SBA route.

So I explored MULTIPLE sources, including conventional, hard money, bridge loans, etc. ALL of them want 30-35% down because the property "only" has 3 small buildings but sits on 11ac of land. They are basically treating it as a land deal. That just isnt fair, I just cannot seem to win. 

I am utterly frustrated. All I have is 20% down on the $1.3M purchase, and I can possibly get another 5-10% but it is VERY expensive to do it (one of those working capital loans with a 24 month repayment = $7k a month worth of repayment) which changes my DTI ratios and is somewhat not ideal. The business CAN sustain it, but its a bit much.

So the question is, is there any help for me? The property is in Los Angeles County, 91390 zip code and I can reply with whatever further details are needed. 

Very frustrated, 

Abe