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Commercial Real Estate Investing

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Chris Jackson
  • Investor
  • Chambersburg, PA
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108
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What is my best option for this deal?

Chris Jackson
  • Investor
  • Chambersburg, PA
Posted Aug 17 2016, 18:14

I have a seller verbally agreeing to sell me an 8-plex for $265K.  I have NOT had an appraisal done, but I can't imagine it would appraise for less than $300K. I thought the seller was interested in owner-financing the 25% down that I would need for a commercial loan, but he said to me on the phone today, "I just want to take the money and run."  His exact words. He isn't as desperate as that makes him sound, but I still think $255K is a good deal for this commercial property. That being said, now that he is no longer interested in providing my 25% down that I need, I am trying to figure out what my options are for getting that money so I can secure a bank loan.

Anybody out there have some solid ideas on my possible options?  THANKS!

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