Rental Property Investor · Charlottesville, VA · Member since 2012 · 1k+ posts · 726 votes
7y
@Robert Larson what kind of building? Type, Price, tenants, number of units, age? There are many businesses/people that loan money on many different types of property. Depending on the lender/property/borrower you will find very different criteria.
Generally banks should be your first stop. No offense intended but you look very young in your picture, do you have a credit history/score? If not you should start working on that immediately.
If the standard lenders don't work for you, look at private lenders, basically people in your area/you know that have money.
It's tough to make a decent rate of return on money these day so most people that have some savings will listen to a pitch if you can make them a good return.
Flipper · Cupertino, CA · Member since 2015 · 265 posts · 27 votes
7y
I would confirm the property cash flows properly to qualify for a generic bank loan. Beyond that it's soup to nuts all depending on what you're comfortable with or can qualify for. People that partner for debt (a loan) or people that what a chuck of the deal (equity)..
Broker / Investor · Tewksbury, MA · Member since 2008 · 1k+ posts · 351 votes
7y
Its my understand that commercial lenders look more at the property and the underlying leases to determine loan eligibility. Do you have any money you plan to contribute to the purchase?