Selling commercial properties with only 3.5% down payment.
Realtors specializing in Commercial Properties... LISTEN UP!
Stop telling everyone to stay away from the FHA 203k, stop saying it takes forever to close one... We just had a lender close her first 203k in less than 30 days... if it is so hard they why can a new lender doing her first one close it so fast? You may be living in the past or using the wrong lender.
In any case this building may not look like yours but if you have a commercial building and can add residential uses to the upper level(s) you have an advantage to take 3.5% down and sell this property or any other commercial property provide the buyer can live in a portion of the residential part of the project. Ideal for a buyer looking for an office space for their own business and are willing to live above it. Throw another story on top of that and rent out the residential for additional rental income which adds to their qualifying income to purchase the property.
While we do this all over the USA we have a new office in Savannah GA and South Eastern South Carolina. We do cover all of South Carolina. Video on Financing your mixed use property with the FHA 203k loan.