I hate to be wasting my time and sitting on money if a commerical loan is unobtainable.

We do commerical development, and I have recently been considering different options to fund future projects, and posted asking if anyone had ever joint ventured, how it was structured, etc.

I almost bought his material 3-4 months ago, but it appeared to be geared more toward SFR private money instead of commerical funding.

I am only guessing at how to structure this deal and would recommend that you seek out one or more local SMALL banks, take the commerical loan officer to lunch and see what they recommend.

A commercial lender will want the net after expenses to cover the debt service (your $1,500) in this case 1.25 times.Also, most commercial lenders won't go for a 360 month loan.Here is the deal... it is next to impossible to get non-commerical loans for income producing properties.

Actually if you looked around your states website you find an online portal to register your new business.It sounds like the attorney is trying to make the most money he can off of you.I would advise creating a business plan if you plan on growing your business or if you are going to look for commerical funding.If you search Biggerpockets you will find some examples.I would contact a few other attorneys and see what they say

yeah I would definitely not invest in a multifamily unless i was going to live on site for the time being...Am i more or less likely to qualify for a commerical mortgage if i already had a multifamily home residential mortgage?

Forgot if I posted about this issue I'm having previously. Have older commercial building right off major highway, upstairs is residential downstairs and outside storage area is commercial. It has gravel/ dirt drive w...

Zestimates on my commerical apartments are all achingly low.

A lot of commerical lenders will require 9 months of PITI in reserves so that’s going to require (at least) another $150K to the fund raise.