| If you are hoping to purchase commercial
| |
| | really taking before you've put money on
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| real estate property, then you are most
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| | the table.
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| likely going to need financing in order
| |
| | 5) You will need financial statements for
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| to do this. That is unless you were born
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| | either yourself or your business. This is
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| fabulously and independently wealthy.
| |
| | a no brainer, but you would be surprised
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| There are certain things that lending
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| | by how many are really shocked when they
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| institutions expect from those they are
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| | are asked for this information. Banks are
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| getting ready to summarily hand large
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| | lending you a large sum of money they
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| sums of money to. Hopefully, the
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| | want to be assured that you are fiscally
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| following tips will help insure that you
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| | responsible and somewhat solvent.
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| get the best possible financing for your
| |
| | 6) Have an attorney who specializes in
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| commercial real estate investment.
| |
| | real estate investments go over
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| 1) Make sure you have all the documents
| |
| | everything with a fine-toothed comb. You
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| you need and that they are accurate and
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| | need someone who knows the business and
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| up to date. You need to have a solid
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| | will be an aggressive advocate on your
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| business plan in place with facts,
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| | behalf.
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| figures, estimates, and forecasts.
| |
| | 7) Be absolutely certain that you can
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| Lenders are making an investment and
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| | afford to keep your business operating
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| taking a huge risk when dealing with
| |
| | and still make the payments on the
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| commercial real estate. If you don't have
| |
| | business. If you can't do this, or you
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| a business plan that indicates that you
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| | aren't certain of your ability to do so,
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| have put a great amount of time, effort,
| |
| | then either now is not the best time for
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| energy, and thought into your business,
| |
| | you, or this is not the right investment
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| they are going to be less than
| |
| | for you.
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| enthusiastic about the prospect of taking
| |
| | 8) Check with your local small business
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| that risk.
| |
| | administration and see what services they
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| 2) Have money of your own to invest in
| |
| | have available to first time business
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| the property. For most commercial real
| |
| | investors and/or small business owners.
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| estate investments you will need a down
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| | They have a wealth of resources available
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| payment, closing costs, earnest money,
| |
| | it would be a shame to miss out on a
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| and points that may be required. Banks
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| | potential grant or low interest loan
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| want to share the risk not absorb it. By
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| | simply because you neglected to check
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| taking some of the risk upon yourself,
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| | with them from the start.
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| you are actually lessening their risks
| |
| | 9) Negotiate. You do not have to take the
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| while increasing their confidence in your
| |
| | first offer you get. Be an aggressive
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| ability to make good on your debt to
| |
| | advocate for yourself and your business.
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| them.
| |
| | Learn this skill early and it will serve
|
| 3) Have paperwork that shows the solidity
| |
| | you well in your business.
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| of this property as an investment. You
| |
| | 10) Check out several lenders and go with
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| need to have your business plan,
| |
| | the one that offers you the best deal.
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| financial records, forecasts and
| |
| | Remember this is a hefty investment and
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| projections, history of income on the
| |
| | an unfavorable loan could increase the
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| property, and the appraisal of the
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| | burden greatly.
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| property when you approach lending
| |
| | This is your investment in your future;
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| institutions. This lets the bank know
| |
| | protect it aggressively. These tips
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| that you take this venture seriously and
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| | should help you get the financing that is
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| that you are organized.
| |
| | so vitally necessary when purchasing
|
| 4) Come into the deal with a current
| |
| | commercial real estate.
|
| appraisal of the property. This can make
| |
| | Apply For A Business or Commercial Real
|
| all the difference in the world. Even if
| |
| | Estate Loan using our FREE Loan
|
| the bank requires you to have another
| |
| | Application - compare rates and contact
|
| appraisal, it is a good idea to have your
| |
| | multiple lenders. We have over 300
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| own appraisal of the property before you
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| | commercial, business and construction
|
| even make an offer on the property. An
| |
| | lenders as well as private equity groups
|
| appraisal will provide you with and
| |
| | waiting to help you. Best of all,
|
| unbiased estimate of what the property is
| |
| | GlobalBX is FREE!
|
| truly worth and it will help you
| |
| | © 2006 GlobalBX. All Rights Reserved.
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| determine what kind of risk you are
| |
| |
|
