Great rare opportunity but need loan help

4 Replies

I run a rapidly growing furniture company. We're currently in 5,000 square feet but need 10,000. We're looking at moving the warehouse about 100 miles south and the owner of the company wants to avoid risk as hes not going to move his personal home. As a result hes asked me if I'd be interested in getting an LLC and putting the warehouse in my own name and our company renting the warehouse from "my company". (He's worried if I get hit by a car or something he'll be locked into a warehouse he lives over 150 miles from)

As you can see this gives me a great opportunity to buy a warehouse, be my own tenant, and have someone else cover the bill, while I build my net worth.  The problem is my wife and I are getting ready to purchase a house this year and any capital left over is there for emergencies.  So is there any way for me to purchase a warehouse that I imagine would cost $600k-$800k with no money down???

And what if something happens to him or his company?

Originally posted by @Steve Olafson :

And what if something happens to him or his company?

 It would become mine.

Buy a vacant warehouse, lease it to the company on a full NNN personally guaranteed lease then sell it to someone else. Instant value!

Your boss sounds like a good guy.

I would get proposal from him and then run it by a local commercial broker.  If you don't know one I bet there is one on BP.  If not talk with a commercial lender at your bank. This might be the deal of the century or not.

Good Luck

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