Quote from @Henry Clark:
Always get a better answer with more detail.
What type of commercial property?
What is occupancy?
Ask for their federal lending cap limit first. You can still do business with them, but they will need to farm out some of the loan.
Do a construction loan. Interest only during rehab and rent up. Keep for 16 months. Overlap the 12 months. Need time for appraisal and loan process to occur after the 12 months.
If this is your first deal and you don’t have a track record recommend you go local with a credit union or bank. If you plan to do multi state recommend you go with a larger bank since they can cross state lines.
You can also do an SBA refi loan through a local bank. But you will need to keep future investments with SBA if you plan to use as collateral.
Your appraiser will be reluctant to reappraise until after 12 months. You already established market value with your purchase.
Storage units and commercial storefronts.
We are not doing construction, so not sure how a construction loan would apply.
Not my first deal. I own 12 properties. My current lenders all require 12 months before a refi.
I'm not familiar with SBA loans. I will look into those.
Now you have some more info... Any lenders you can direct me to?
