Today we are talking about 100 percent financing land loans with Commercial Property Deal. Did you know that you can actually be able to purchase a commercial deal an apartment complex, retail strip Center, a washeteria, gas station and you can do with no money down.
Did you even know that was even possible?
It is we have the opportunities here to get up to a 100 percent loan to value on purchasing your commercial deal, whether it’s a restaurant it’s a retail, strip center apartment.
We don’t care we’re able to fund our hard money private funding up to a hundred percent loan to value.
Let me explain to you how it works now you might say how is that even possible people can’t even believe that’s true in 2020.
Yes, we can do it I’ve funded the deals I have the closing statements I can show you people bought commercial deals with a hundred percent loan to value.
Up to 50% of the deal
The way it works is we’ll make a loan to you up to 50 percent of the deal.
So I’ll give you an example one that we didn’t Chicago he bought a 1 million dollar retail strip Center in downtown Chicago.
We gave him a first mortgage for 500,000. the seller carried a second note for 500,000. So he had two mortgages and he got 100 percent financing land loan to value. No money down and even rolled in all of his closing costs
so the deal is you have to have the seller carry the second mortgage and then you can get zero down funding.
Now if the seller is savvy he’s in real estate. He’s usually not gonna have a problem doing this if it’s an individual that doesn’t understand real estate the deal is not gonna work out.
But if the seller knows what’s going on and they know about real estate deals because this is the strategy behind it.
Purchase the Property
As you’re gonna go purchase the property take title to it and then refinance and pay off the seller and six months or a year. You’re not gonna state you’re not gonna get keep his second no for you know forever.
It’s just to take down the property and bio with zero down. Because most commercial banks and lenders are going to want you to know twenty to forty percent down on a commercial deal.
Whether it’s a mobile home park whether it’s a washeteria, a casino, a restaurant you know apartment complex does everyone have twenty to forty percent now a lot of people don’t.
Should that mean they get denied they can’t I have their opportunity their dream they able to buy their deal no you should be able to still get funding on it?
So this is a unique opportunity to have you have the agility to go quickly purchase that property we can close as fast as 30 days.
The only thing you have to pay out-of-pocket for is the appraisal. You do have to pay for the appraisal.
Closing Costs Wrapped
But other than that you can get your closing costs wrapped into the deal. You can get the seller to carry the second note. The key to this is having the seller carry the second note.
As long as the seller carries the second note. You’re good to go and then we can get those closing costs wrapped into it and then it’s a done deal boom.
We can close you and then again you can you know you can carry the second knowledge of the seller for as long as you guys have that agreement. Or you can refinance take him out pay him off later.
But it allows you to be able to buy the property take it down own it take the title and then you can have it then you can do what you want with it.
So it is possible and totally legitimate and real to be able to buy commercial real estate.