Our team has just gotten our first commercial property under contract and our time will largely be spent in these areas in the immediate future.

Hi Mary,It is true the lender will not usually give you the rehab funds in advance, but this does not mean that you must complete all of the rehab out of pocket.

It sounds like it's not in a very desirable area, based on the price and rents.

Quote from @Judy Jacobs: Thank you so much Ryan and Trevor.

website is www.federa.com   it looks like they sell foreclosed and pre-foreclosed properties? 

Pick a focus and run with it.

A lot of this process depends on your laws regarding STR and Mid term leases/occupancy?

You can determine what a decent salary would be for someone in your market and then reverse-engineer to see if what you're paying as a salary, plus the projected performance commission, will get you there.

I see some lenders out there would just pick the "lowest" rate and the client ends up paying more than 1% of the loan amount at their closing costs.Key point is "Lowest" rate does not mean the cheapest rate  I have worked in traditional community banking for over 7 years.

First, be sure you have registered ALL your Corporations and LLCs by December 31,2024Failure to file is a $500/day/entity fine!