Updated 11 months ago on . Most recent reply
First commercial rental property
My husband and I want to a building that previous operated as a church and rent it out to my personal company that is looking for a clinic space. My company is profitable every month for over a year. The company is a partnership with another colleague. The partner and I have agreed that my husband and I will buy the building that the company my partner and I own will rent from my husband and i's LLC. We don't have a ton of cash to put down and are looking at options for financing this perfect fit building we found. We have 45k in equity for our home due to huge growth In the area, but we haven't lived in the house long enough to be able to utilize that option. We have considered sba for the down payment and then a commercial loan for building. With current numbers this still allows for close to 700 a month in cash flow after paying both loans, but we want to know if there are better options we are missing?