All Forum Posts by: Dayrone Edwards

I have a property zoned agricultural that I plan to lease out as commercial. It’s a 5 acreage lot with a house 2300 sf, 3 commercial garages and 3 mobile offices that sits adjacent to the house. The previous owner used it as an automobile paint and body shop for 9 years. How do I known how much to lease the property for? Assment value is 250K purchase price 73K cash. I plan to cash out refi with commercial mortgage @200K with 4.5% interest rate

It’s the perfect setup for some one to live in the house and operate a paint/body auto mechanic shop.

@Rene Owczarski I spoke with the bank today being that the property is zoned agricultural along with the previous owner used it as a paint and body shop it qualifies under commercial lending guidelines. The bank only requires a tenant with a 5yr lease agreement. Once I have that in place I can fill out a loan application the next day.

Hello everyone just purchased a commercial property mortgage free 2 weeks ago. How long does the property have to season before its qualifies for refinance, commercial mortgage or business equity line of credit the property is zoned Agriculture.

Hello everyone just purchased a commercial property mortgage free 2 weeks ago. How long does the property have to season before its qualified  for a commercial mortgage or business equity line of credit