Here is my Buddy’s scenerio let me know if anyone can help. I need to make sure that all the closing cost as well as the appraisal is included in this deal. I have enough money for working capital to run the business
purchasing business and property in Essex, MA for 725K
building appraised at 530K 3years ago
business is worth 225K
My credit is about a 580
Property is a rest./bar on first floor and a 3 bedroom apt. on second floor. APt rent $1400/mo
building is 4800 sq. feet
property is just under an 1 acre. Gross Sales is 430k/yr
seller will hold second as down payment. Can anyone help do this deal? Need the highest LTV possible. This is on a urgent basis.
Prerak
