Build a space for my business

Commercial Real Estate Investing
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Build a space for my business

Alicia Garza
Member since 2018 · 2 posts · 0 votes

I’m approved for an sba loan but is not enough to purchase the land and build a 6,000 square feet building. Should I wait a couple of years on the project or should I apply to purchase the land? 

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  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    7y

    If you just own the land you have no income coming in usually off the land until you start to improve it. Have you approached the owner for owner finance loan at possibly better rates and terms than what the SBA lender offers?

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  • Alicia Garza
    OP
    Member since 2018 · 2 posts · 0 votes
    7y

    Maybe I should just wait to earn more money for the down payment

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