10% down commercial loan?
There is a great commercial deal for around $350k that I am trying to purchase. I hate to walk away, but it's a tad out of reach. As a last ditch effort I wanted to reach out to see if anyone has any ideas with 10% down. Here is my scenario:
I own two houses with a combined equity position of about 150k
Have a great job
Have 10% down
Can get a realtor commission 3% that I can apply towards the deal
The dilemma: the deal won't last long, but I want to try to see if anyone has any creative ideas to get financing? The seller will only finance 25k. Is there such a thing as a 10% dow money loan on commercial real estate?