If you're capable of getting funding from a bank, those terms are terrible.

I'm curious why your bank rate recently increased?

You may have to put more money down (10-15%), but you can close, in a LLC, with no worries about banks.

Wheatland Bank was good to me but the lender I worked with has since retired.

If you are looking to avoid cap gains on one, ok, but paying you a little more to become the bank is not whipped cream on a sundae to me, it's like one old walnut.

For your first commercial deal, your best home is probably going to be with a local community bank or credit union. 

He would also not need any private money lenders to close these transactions -- his bank would be dying to give him a commercial line of credit. 

Although we do have deals on the lending side that dont work but we are not forced into a position to take big loss's like we were when the banks were calling our loans.. this will happen in the DSCR world as all these folks are using same type of debt IE debt that can be called based on the terms of the debt or like you have seen with the syndicators that are talked about on BP max leverage bad debt things dont go right And you have cap calls or projects totally lost. 

I think it should appraise for at least 600k and think 650k is reasonable.It’s fully renovated and fully leased for $5,200/month.I’ve reached out to banks to see if I could use cross collateral to be my equity contribution but at least so far they’ve also wanted 10% cash.I’d like to avoid coming out of pocket with cash.I was wondering if you had creative ideas on how I might be able to get this financed 💗

Can you throw out names for Missouri resources they have worked with before on investor friendly realtors, tax experts, and investor friendly banks?