Updated over 13 years ago on . Most recent reply
First commercial loan questions
I did plenty of residential investments and loans with online lenders. But doing first true commercial loan for a retail building (1.5M loan with 75LTV) can be a different experience due to different qualification process.
Questions:
1. who are best lenders? local banks or online lender? if local banks then can please give some name in Texas?
2. would 75LTV enough for them to isolate my other assets from this investment? can we put building under a LLC instead of our names?
3. what is best term if I plan to keep property in long period? what needs to be there to make note extension easier in the future.
Thanks in advance
QL