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Buying Commercial Real Estate Tips Winston Rowe & Associates
Winston Rowe & Associates, a no advance fee national commercial real estate financing firm specializing in private capital, private equity, SBA and institutional financing. 248-246-2243
Winston Rowe & Associates, a no advance fee national commercial real estate financing firm specializing in private capital, private equity, SBA and institutional financing.
They have prepared this article to provide advice for buying commercial real estate.
For more information about Winston Rowe & Associates and their commercial loan programs, they can be contacted at 248-246-2243 or visit them on line at http://www.winstonrowe.com
Investors seeking a purchase loan will require documentation from the seller and the buyer. When borrowers are purchasing commercial real estate, they are buying a business. Therefore all of the seller’s business financial documentation is relevant and is required.
These documents should be collected prior to the execution of a purchase contract hard deposit to ensure that the business (commercial property) can support the loan you are applying for.
Beware of sellers that are reluctant to demonstrate the financial health of their business. That great deal you found may just be smoke and mirrors. Always keep in mind that business people almost never walk away from a successful business, because they are tired of making money.
Commercial real estate investors purchasing distressed properties should bear in mind how commercial lenders consider actual value, the financial health of the borrower, down payment requirements and exit strategy and past business experience.
When lenders review distressed opportunistic commercial real estate purchases they generally consider the selling price as the value. Not a past appraisal or it used to be worth value. The second criteria a lender will consider are the financial health of the prospective borrower. Can they come up with the required down payment and make the monthly mortgage payments? This directly relates the exit strategy, how is the lender going to get their money.
Since purchasing distressed commercial real estate is a high risk business venture most lenders require proven business experience.
Every commercial real estate transaction requires reports which include; appraisals, environmental, certified financials, property inspection and engineering just to name a few. Reporting costs are not generally part of the loan amount, so expect to pay for these in advance to the funding of your commercial loan.
At Winston Rowe & Associates, their primary objective is to provide the most reliable and efficient means of sourcing both debt and equity for your commercial real estate loans.
Winston Rowe & Associates
31408 Harper Ave
Saint Clair Shores MI 48082
Winston Rowe & Associates provides no upfront fee commercial loans in the ensuing states.
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming