Hard Money For Berkshire Commerical Property Downpaymet

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Hard Money For Berkshire Commerical Property Downpaymet

Rental Property Investor · Raleigh, NC · Member since 2019 · 20 posts · 12 votes

Hello,

I have a great opportunity to purchase a fully rented and renovated office building in Great Barrington, MA from a friend of mine. It is currently an off-market deal, but my timing isn't right and I am not liquid for a downpayment. I'm seeking $100k of hard or private funds to secure the property. I have a business partner who is able to finance the difference for the total $400k purchase. I have already reached out to a local lender for the remainder of the loan amount above and beyond the downpayment. I am able to provide the lease agreements of the current tenants and a breakdown of the monthly expenses for the building. I have calculated to have one thousand dollars over the monthly expenses to apply to hard/private funds until I am able to refinance the property. This is my first venture into using the resources of a non-traditional lender as well as my first commercial acquisition. I certainly appreciate all of the advice and assistance from my fellow Bigger Pockets members.

Thanks

Robert

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  • Reginald TrussPro Member
    Lender · Toledo, OH · Member since 2015 · 1k+ posts · 96 votes
    6y

    Robert, maybe I can help, but I need to ask you a few questions, therefore I need your email address.  Hope to hear from you.

    Reggie Truss

  • Developer · Monmouth County, NJ · Member since 2015 · 16 posts · 0 votes
    6y

    Please reach out to me to discuss further.

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