Hi everyone, I would like your help. I have a deal avail. to me where to seller just wants to get rid of the house. It was owned by his parents who have passed and he just wants to get rid of the house for a great price. Since the house is on land that is in a light commercial area. But here is the problem. Commercial lenders have since raised the dn payment from 10% to 20% which could be a big difference. Here is what I am thinking I could buy the property as residentual and then finance to light commercial drawing money out to continue with my real estate. or should I try to get it commercial all together. My ultimate goal is to get money out in order to have more money to invest. Please help me with this.
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Hi everyone, I would like your help. I have a deal avail. to me where to seller just wants to get rid of the house. It was owned by his parents who have passed and he just wants to get rid of the house for a great price. Since the house is on land that is in a light commercial area. But here is the problem. Commercial lenders have since raised the dn payment from 10% to 20% which could be a big difference. Here is what I am thinking I could buy the property as residentual and then finance to light commercial drawing money out to continue with my real estate. or should I try to get it commercial all together. My ultimate goal is to get money out in order to have more money to invest. Please help me with this.