Hi BP community - I just got my first commercial property under contract and already have a general proposal from US Bank on the property for what they will lend, but want to make sure I'm doing due diligence and getting the best rate/terms/partner bank for this property. For reference, it's under contract for just over $2 million, about 80,000 sqft, zoned general industrial and being used for light manufacturing/flex space. Anyone have any good recommendations? Also, since I am new to the commercial side of things, I would love to network with anyone else in Cincinnati doing similar investments. The more I've learned about commercial the more excited I am to dive in!
Can you share what you are being offered by US Bank?
If this property has a good cash flow I have sources that could offer financing but I would need more details.
David my father has been a commercial loan officer for over 30+ years in Cincinnati. Shoot me a message if you'd like and I can give you his contact information.
@David Hayes I am happy to recommend a few local commercial lenders in the Cincinnati area if you are interested.
I am looking for a mentor to meet up for coffee or lunch. I have a residential property but would like to learn about Commercial - message me if any of you are interested.