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Updated over 4 years ago on . Most recent reply
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Loan options and strategies on commercial property with partner
I am doing my homework and seeking advice/feasible loan options to pursue when partnering with someone to acquire a commercial warehouse type property. The property needs to be in Los Angeles, estimating $1.2-$1.5mil at least 10,000sqft. The intent of the property is to secure a larger space for the expanding business and then rent out the remaining space to other businesses.
Partner A: Owns and runs a business, has comfortable consistent cash flow to sustain estimated payments for such a property but minimal credit history.
Partner B: No purchase history of any property, w-2 income, excellent credit score with long history, will have zero debt in 2 months.
Bringing high cash flow and excellent credit together between two individuals, what are some strategies and loan options you would suggest to acquire such a property?
Am I asking the right questions, do I need to restructure my question and clarify more specifics? I appreciate everyone's time!