No money down on commercial property??

[Billy Guyette]

If I'm looking at a commercial property that currently appraises for $1,000,000 but able to buy it for $800,000, would a bank lend 100% of the purchase price? This is assuming the underwriting is based on 80% LTV.

[Jay Hinrichs]

usually you need real cash equity regarless of ARV or FMV.. although I talked to a dude in Chicago and he was able to work his lenders with Seller credits and put less than 30% and if he could be believed he was putting very little if anything down. but I would have to see those to believe them