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Updated about 2 years ago on . Most recent reply

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Adrienne Herrenbruck
  • Investor
  • Thomasville, NC
8
Votes |
14
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Looking for Input on My First Commercial Property Purchase

Adrienne Herrenbruck
  • Investor
  • Thomasville, NC
Posted

I'm looking to buy my first commercial property.  It's two small lots, one with a building currently renting and one with a currently rented parking lot.  I'm having a hard time getting answers from lenders on what type of loan we may use for the property.  It seems like muddy waters.  Do I have to have a commercial loan?  Since it's only one unit per lot can I get a conventional loan? 

I'm well qualified financially for the purchase but am having a hard time getting started with my funding options.  Any help is appreciated by this newbie!

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6,603
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6,950
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Bjorn Ahlblad
  • Investor
  • Shelton, WA
6,950
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6,603
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Bjorn Ahlblad
  • Investor
  • Shelton, WA
Replied

@Adrienne Herrenbruck look up top and you will see 'Network' select that and the second from the top is 'Mortgage Lenders'. See if you can get some clarity from folks there. You can also search the site for lenders (members). I think some of those folk could do some legwork-it would be in their best interest.

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