BUYING COMMERCIAL W/NO MONEY DOWN - Posted by BRAD

Real Estate Investing
1

Posted by Stan on March 04, 2000 at 20:00:41:

If you can get 80 / 20 financing it sounds ok… Most lenders will only do 75% /15% for commercial. That is 185k 1st, 30k 2nd, for 217.5k total. Things to think about: broker fee (if any), & closing costs.

2

BUYING COMMERCIAL W/NO MONEY DOWN - Posted by BRAD

Posted by BRAD on March 04, 2000 at 14:54:07:

I was told that this is possible and I would like to know how.

  • Buy a 10 unit building at a sell price of $200,000 with no money down
  • Using a Land Contract (I have no idea what it should say)
  • I want to get the Appraised Value of the property of $250,000
  • The current rents will pay a mortgage note of 250,000
  • At the closing, I will get a check for $50,000 and the seller $200,000 (the agreed upon S-Price)equaling the $250,000

Can this be done?

Thanks!

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Re: BUYING COMMERCIAL W/NO MONEY DOWN - Posted by ali

Posted by ali on March 04, 2000 at 20:56:44:

This deal does not make sense.
let assume contract for $ 250,000.00
less 20 % down 50,000.00
Seller get $ 200,000.00

where are you going to get $ 50,000.00
can you explain me whts in your mind and wht is going to be contract price

thanks
ali