Has anyone out there seen 100% financing on strip centers that include a business such as a liquor store or convenience store?
No, typical commercial loans require a minimum down payment of 25%. There are some instances where you can assume the note and possibly work out a deal with the current owner as to financing the difference of the note to the sales price.
You might send a message to Pattie Porter or EzLoans both of whom post on this board. Both of them should be able to get you 90% or higher on a commercial loan.
I can’t offer 100% on multi-tenant strip centers. The most I can get for you would be 97% if is owner occupied or 90% if it is an investment.
I have 100% financing for single tenant, credit rated properties.
So Patty, if someone were to lock in a deal with a Walgreens or something like that 100% is possible?
100% on a credit rated NNN like that is definitely possible. CAP rates aren’t that great from the ones I have seen, though.
On the flip side of the coin you know the rent check will be there like clockwork…
So what’s the catch with the 100% single tenant program? Sky high rate? High cash reserve borrow requirement? Is that a senior and junior loan, a senior and seller carried second? How is the 100% cltv arrived at? Thanks.