If someone other than us has turned you down for commercial bridge financing, take heart. We may can still help you. As we have numerous programs including Joint Venture financing (Primarily East Coast) programs where we supply the equity needed to get your deal done so we might still can help. Give us a call and at the very least you will know you gave it your all.
If you are seeking a hard money commercial loan to purchase a property, we may can help there too. Most of our JV equity financing deals are for purchases where credit isn’t a factor in the deal so keep that in mind. If our programs isn’t a fit, then there is at least one more option. What I am talking about is getting the seller to owner finance the property. Many sellers having trouble selling their commercial property, will consider that, particularly if they have a lot of equity in it and you have a nice down payment. Unlike traditional commercial real estate lending, sellers considering owner financing to sell their property rarely check a buyer’s credit. They also don’t care where the down payment comes from nor how much seasoning there is on the funds like a commercial lender would.
One final bit of information on seller financing for selling a commercial property that you may want to point out to the seller, particularly if the seller doesn’t want to wait 10, 15 or more years for the balance financed. And that’s the fact that the seller can sell the note. I won’t get into all the ins and outs when a note holder wants to sell a commercial real estate note but in a nut shell, the higher the interest rate, the better the buyer’s credit (can be a corporate entity), and the shorter the amortization period, the lesser the discount on the note by a commercial note buyer. For more on this process, give us a call. We have a whole business on buying commercial (and residential) real estate notes. You can reach us at 877-655-5625 or 828-689-4683, 7 days a week.