Funding Question
Commercial properties really interest me since the funding is more based on the deal itself. Now obviously cash is going to still be needed but I really like the prospect of going "deal hunting".
A friend and myself can pool 40,000 to 50,000 to be used to purchase a property. So my question is this, realistically what range of pricing should we be looking into?
We have found a few properties where we could get close to that 70-75% barrier but these are on properties that are in the 800,000s. We do not want to buy a great property to only get burned when we can't make repairs early on etc...
So seller financing is a must for us. What other things can we look to do? I would assume finding properties where we can secure NNN leases would be the best but is not hugely popular in our area. The only other thing I've heard work is to get an energy efficient loan where they will front the costs of a couple of solar panels since you can factor the savings into the equation.
So anyone care to share things that they use or could try out? We're just looking for creative ideas to make the most return on our money and want to be very careful with our first property. Thanks guys!