All Forum Posts by: Jimmy Warr

I have found a building for $50,000 that is 100% occupied . Would anyone offer an unsecured loan for this amount ?

In Memphis, Tennessee . 

BP, Do banks still supply an unsecured loan and would they $20-30k unsecured? Or a line of credit for this amount ? I am wanting to increase my down payment for a commercial building by this amount. (The seller is willing to owner finance)

That answer is broad :-). You will likely get several different opinions, but you should take the best answers that fits you and your current stage in life and the direction that you are heading in. I personally believe in getting your mindset right and receiving clarity on your goals in life . Start with "The Miracle Morning" by Hal Elrod I wish you the best on your start.

Thank You all. The Locale REA has a basic contract that can be used, but it seems  a bit scary.

So I will have a RE Attorney help me out. Thank you both

I found a small Commercial Building. I am looking to negotiate with another investor that actual owns the property.

Should I locate a realtor or Real Estate attorney to draft a sales contract ?

Tom You are soo right. This property has been completed neglected. If I upgrade this building just slight, it will improve the tenants moral and longevity. I really pray that this deal goes through okay.

WITHOUT any MAJOR surprises. lol 

Lol, true... Thanks. I haven't done the offer yet, would the seller still provide that info ?

BP, I need you help. Is it usual for a hard money lender to ask for a "uniform residential loan application" to be completed. It seems like a lot of information that does not apply to me ? -Also will a seller give any potential buyer the "rent roll" and a copy of the current tenants leases? Memphis TN

BP, I need you help. Is it usual for a hard money lender to ask for a "uniform residential loan application" to be completed. It seems like a lot of information that does not apply to me ? -Also will a seller give any potential buyer the "rent roll" and a copy of the current tenants leases?

Welcome welcome welcome :-)