Updated over 11 years ago on . Most recent reply
Question...is it possible for me to get financing for a commercial loan?
I have the opportunity to buy an old motel that is currently being run as month to month rentals. Cost is $1m and grosses about $300k-$350k per year. As for me...I have great credit (800 fico) but little cash (about $40k) Owners are flexible though and may carry much of the downpayment. So would a lender even touch me with so little cash in the deal?