How to Get Commercial REal Estate Deals by Taking Over the Loan by Maria Gudelis
maria gudelis | February 14, 2009Maria Gudelis on How to Get Commercial Real Estate Deals
A lot of people are not aware that you can take over an existing commercial real estate property (storage unit, apartment building, retail complex) without having to go through the tough application process of using a bank loan.
There are many deals out there where you can convince the seller to allow you to take over the existing loan. Commercial real estate agents in fact, are much more aware of this buying strategy than residential real estate agents.
You would be suprised how well a commercial real estate agent can negotiate this for you with the seller and if you know how to market well and get the cashflow of a commercial property in a profitable state…then you might want to investigate commercial real estate a little more!
To your success, Maria Gudelis
Are there any strict requirements for taking over the existing loan ?? Do you have to have a stellar credit score in order to assume the existing loan ?? Tell more, please.
Thank you
Love your page btw
Twitter: twittermaria
says:
Hey there Micheal – you actually don’t need to have stellar credit – that is the beauty of owner financing. I’d recommend if u haven’t already – start building corporate credit – get an llc or c corp, get some intitial cards like home depot, gas card, and register with D&B and over time, your corp will have credit!