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Who can do this deal? Needs to be 12 months or longer. Merchant needs 400k to purchase the land his building is on the landlord died and the kids are liquidating for a steal at only 400k. Merchant has been paying 3600 a month rent for 9 years. Dealership down the street including a small building sold for 1.5m so def worth it. Merchant has a rental property with 170k equity and a home he just bought 6 months ago put 50% down $500k which he never would have done had he known he was gonna be able to buy his land that the landlord said he would never sell.
I have all docs tax returns p&l bank statements app, credit reports you name it. Who can help me get this deal done? A 3% success fee has been agreed if we go through a bank but would rather just get something like 24 month term or interest only payments and in a year he can convert over to a commercial mortgage. They just wont approve another mortgage due to the recent home purchase and he already has another mortgage on rental property but that one makes a profit every month on airbnb
I have all docs tax returns p&l bank statements app, credit reports you name it. Who can help me get this deal done? A 3% success fee has been agreed if we go through a bank but would rather just get something like 24 month term or interest only payments and in a year he can convert over to a commercial mortgage. They just wont approve another mortgage due to the recent home purchase and he already has another mortgage on rental property but that one makes a profit every month on airbnb
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