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Updated 11 months ago,
Interest Only Commercial Loan? Commercial seller financing?
Looking at buying a commercially zoned building in the Montgomery area. It is currently FSBO and our vision/plan is to occupy 51% of the space ourselves (small business) and rent out a portion of the building. We are trying to get creative with financing as our family cannot really float the monthly payment we were quoted for 6+ months while we renovate the property and prepare to open the business. It is in no way ready to open as another business, the building needs a lot of work. Has anyone had success with renting back from the owner while renovating a building with an agreement to purchase the property at a later date? Is there an interest only loan that any commercial lenders have which would make the monthly payment lower for 6 months or so? Open to any and all ideas.