Hi, I’m just starting out and wanted to collect some opinions about some creative ways of coming up with a 20% down payment on a million dollar commercial property (6+ units).
I’m a business owner and would consider pulling equity/line of credit for the down payment, but not sure if that the best/only option.
Thanks in advance for your suggestion, comments and guidance.
I'd look for something you can BRRRR using other people's money - equity partners, JV partners, private money or hard money. That way you put none (or a small amount) of your own money into the deal and end up with a bunch of equity.
Thanks Clark. So you would suggest a BRRRR vs buying a move in ready property? Is this primarily because lending is more flexible and the options are broader?