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Updated over 8 years ago on . Most recent reply
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need advice on commercial lending
Ok so ill be straight up honest and would appreciate and advice. I just got turned down from buying a duplex because i didn't make enough money. The duplex only costed 130k so my lender said sorry theres nothing i can do because you don't make any money which is true . i go from job to job. . So heres my delima about if i should get into commercial lending ( which i don't have any experience in so would need guidance) so in my bank account i have about 250k in savings but on the flip side i only made like 30k dollars last year due to circumstance and banks see that they just through it out. which doesn't make sense because of my savings..
So heres my question do i go into commercial lending and buy 5+ units and above or even can i ? since I'm buying an operating business . i just don't know how it all work. I am very eager to start working on this today. so if anyone out there that has apartment complex for sale with good returns and you know my finances i would be glad to to do business with. and any lenders on here that can help me i am willing to do business with . Thank you so much bp . I am also located in dallas texas but am will to do business out of state.Thank guys!
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We are financing investment properties and commercial properties for our clients using stated income products and loans based of the cash flow of the collateral. Down payments range from 25 to 30% down, 30 yr fixed with 30 yr Amoritization or 5/1 - 7/1 Arms. If you have any question regarding financing feel free to ask.