Financing Options - Posted by Chris W

import · July 18, 2003, 10:11am

Posted by Brad on July 18, 2003 at 18:33:35:

Hi,
Please send me your contact name and number and we will see if we can get you some financing on the commercial property. Thanks

import · July 18, 2003, 10:11am

Posted by Chris W on July 18, 2003 at 10:11:01:

There is a commercial property that I have been interested in purchasing. The gross profits have been:

Yrs. 2000 - $224k; 2001 - $248k; and 2002 - $259k. Presently this property has an occupancy rate of approx 65% with potential to increase in 3-6 months. The net income for 2002 was approx. $60,000. The property is appraised for $150k and the seller is asking $352 including the business.

I am looking for options in financing since my own resources are limited. The seller is also asking $10k down. Any feedback regarding financing options is appreciated.

Thanks

Chris W