All Forum Posts by: Rita Bautista

Nathan,

My private lenders look more ate the property value. Some of them do stated income loans. They will ask for tax returns and yes a personal guarantee is necessary early on but you can build you LLC's credit over time. Make sure to have a separate bank account and credit line for your business. Creditera.com gives you your business credit score. 160 is considered good businesses credit.

Yes that would be a commercial re-fi.   I don't think it's more difficult though. You have more options for commercial re-fi's because you can go to banks or private lenders.  It will be a higher rate than a residential loan. 

It may not be the deciding factor, but it is always requested.  If income is the issue you can go with a state income private lender. 

Let me know if I can help.

Amber,

For what type of property?

Patrick,

I'm not sure about FHA but it might be possible to put 10% down on an owner occupied SBA commercial loan. Renting units is a valid business for the SBA. The rate for that right now is 6%.

James,

You could access a stated income commercial loan or a working line of credit.  Inbox me if you would like more info. 

Thanks, Brie.  I have other plans that evening but will definitely try to get to the next one!

Kesgn,

It's not the matter of the state, it is a matter of which lender you pursue.  There are national and international private lenders here in the states.   Some work with foreign nationals and others don't.  

Does anyone have experience in investing in a commercial farm?  

Many commercial lenders will work with stated income.  Some working capital lenders will work with FICOs as low as 500.  Most hard lenders are not concerned with FICO scores at all.