Let's Talk Commercial Loans

[Jack H.]

I will need to use commercial financing for my next rental properties. I understand the process is much more straightforward. But it kind of freaks me out. I understand the rates are 1-1.5% higher than conventional rates. I am concerned that there might be an event where the loans are called and it being difficult to find other financing. Lastly, I am generally concerned about the pitfalls and scammers. Does anyone have any good resources or advice?

[Krystle Moore]

Hi Jack, I do commercial financing in CA, so I wouldn't be able to help you out of state. Depending on the size, I'd be happy to refer you to a good broker. I know a few in other states and who also lend nationally. In general, commercial financing is much easier than residential but there are some terms you haven't seen if you're used to residential. I'd be happy to answer any questions I can and point you in the right direction. I wouldn't be any more worried about scammers than anything else, just make sure you work with someone who has experience financing the type of property you want to purchase.