Here's how the conversation went: Me: So what is your situation. lead: The property is an auto body shop and a lot that fits 10 cars.

They are doing this to pay back and replenish losses from foreclosures of the past.Great part about FHA is you can get a gift from family etc. for the whole down payment which is 3.5% currently.

If your shopping around and getting into a bidding war your going to cut your own throat...

And have strong financials.2) He didn't want to have to worry about the unit being treated poorly, as they were remodeled - and there are some sketchy people who still live/move in to the neighborhood. 3) I think he also wanted to give a little "gift" to a friend of a family member.

This is a case of putting the smallest amount you possibly can down.Rates in Ogden, Bankrate.com <-- make sure you shop.

I'm talking about the kind of flyers you'd see at grocery stores, coffee shops, ect.

They sell store gift cards including home improvement stores and Amazon, so it's a 5% discount at the right store.

Once the properties are stabilized and rents are solid, I start shopping around to commercial lenders as soon as I can.You can make money paying 15%, but you can make a heck of a lot more money only paying 5%!

Maybe something to shop around for some more.I have never heard of paying a higher rate for mortgages under $200K.

They need to know you won't drive the business in the ground and get nothing but a mess if they need to take it back.Doesn't matter what the business is, a rental, a MH park, a grocery store, a car dealership or a coffee shop.