All Forum Posts by: Ryan Fennick

I came across a small commercial property. Consists of a store front with a 3 year lease at $900/mo, a two bedroom apartment $800/mo, and a 3 bedroom apartment $900/mo. There are 0 vacancies. Total monthly rent is $2,600/mo. They are asking $239,000. I offered 197k and they countered at $230,000k. Thoughts?

Agreed.  Thanks for your help!

So then the question is...is it not just better for one of us to finance the property in our name then transfer the asset to our LLC after the fact and pay the 2% transfer stamp? also an arm is pretty standard? thanks for your help

My partner and I are in the process of securing financing on an investment property. Purchase price is $48,500. We are putting this property in under our LLC. Lender terms are 25% down, 5 to 5.25%, 5/1 arm. They told us we qualified for a private loan but this becomes a commercial loan and that it is rare to get a long term fixed rate loan. This sounds off to me. Any thoughts? we both have excellent credit and work full time jobs with good income.

Thx