Starting in Commercial real estate investing?
Mar 31, 2010
in
Commercial Property Loans
What price range of commercial property can I realistically apply for a loan on if I make ,000 a year and good credit but have less then ,000 in liquid assets. Assuming I am able to come up with 20% down on the property. I have found plenty of promising properties for cash flow with cap rates around 13%. I just don’t know what range is too high or low for me.
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One comment
linkus86 on March 31, 2010 at 9:26 am
You need to ask this question to a mortgage broker as anyone would require a great deal more info than you have already provided especially concerning your present debt to income ratio (how much money you have coming in versus going out). The loan will be secured by the property in a similar manner as it would when buying a house, but there are other variables to considered. You can’t count on the capital income as a part of your income to qualify for the loan.