Real Estate Investor · NYC, NY · Member since 2009 · 3 posts · 0 votes
:roll:
Ok so whats the real deal in commercial realestate in today's market? I've been told it's easy because the properties debt to income ratio and net operating income is the qualifier, not your own personal finances.
But with a decent income producing property hovering around the $3MM mark in NYC, how doe one get around coming up with $600k (20%) and stay afloat as an investor.
What are the real techniques used by the big dogs, and the proper structuring used to obtain a mortgage that can close.
You could ind a commercial lender who loans based on the property's income and expenses alone and not your personal finances, and that does not make you guarantee the loan yourself.
Or you could find a credit partner to qualify for the commercial loan so you don't have to, and buy it in an LLC you're both a part of.
In either case, you'd need to get a partner or private lender to come up with the down payment unless you have it lying around yourself.
I need a lender with those parameters pronto. I'm an ace at finding deals just to have someones else beat me to the punch to the closing because they have the right finacing.
If you know of a lender with national reach or one that lends in Conneticut and New York, I'd be thankfull for the info.