As I'm sure many of you know its hard to come up with 20% when buying commercial property, but where there is a will there is a way, or so they say.  I think I've just demonstrated my rhymning abilities.  So here is the scenario.  I have a very motivated client.  He's really pushing to buy 1,2, and possibly a third property, but the catch is, he has no cash. 

In the past, it was possible to do an 80% first- financed by the institution of you choice, and have the owner hold the 2nd for 20-25%.  The local banks that we typically use for commercial lending are telling us that at this point, these programs are not available.  We have already had the owners of two of the prospect properties agree to hold a second at 7% amortized over 30 years with a 5 year balloon.  The numbers work to do this and we did them conservatively. 

If any of you lenders out there think you can help me and my client out, or have any advice/feedback I'd love to have you either contact me or reply below.  The properties are located in central Pennsylvania if that would be a factor for any of you.

__________________________________________________________________________

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David E. Monsour, Realtor

Keller Williams Keystone Realty, Gettysburg, PA 17325

717-319-3408

David.Monsour@Gmail.com

 

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David Monsour, ABR (www.realty-insights.com) (Keller Williams Keystone Realty) Rainmaker_large

David Monsour, ABR (www.realty-insights.com)

Gettysburg, PA

More about me…

Keller Williams Keystone Realty

Address: 223 Baltimore St. , Gettysburg, PA, 17325

Office Phone: (717) 334-4565

Cell Phone: (717) 319-3408

Email Me

The Gettysburg Homes and real estate information blog is my way of giving back to Gettysburg's people and my personal sphere of influence. The objective is to provide real time real estate information and it's potential effect on Gettysburg, PA.

The current real estate market is far from what one would call "normal." Changes are constant, which requires professional realtors to be knowledgable and capable of shifting with the market. The governments attempts to stimulate the market has also caused a steep learning curve for most buyers and sellers in the market. An understanding of the policies and procedures is just one way I can help you to the successful sale or purchase of a Gettysburg, Pa property.

I work both as a Gettysburg buyer agent, and a Gettysburg listing agent. I also enjoy the challenge of finding quality investment properties and helping buyers to ensure a desired profit margin.

If I can help you in any way feel free to call or send me an email. Quick response time and great communication are always my goal.

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