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John Dragone posted a new Products And Service thread on 6/6/2010

In need of financing for commercial real estate?

Do you need financing for a small to medium size business? or for income producing commercial real estate?
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Stephanie Burns Responded on 6/10/2010


John - if you have the personal financing - no you would not need to obtain financing for a business purchase. As you probably know - the banking/lending world is extremely different than what it used to be - although it seems to be getting better. If you end up having to obtain financing, I would first make sure that you have a good credit score and collateral to back up your financing needs. These are two of the major obstacles we have seen lately. I hope this helps - and if you are ever looking for a business opportunity in the Midwest Region let me know!
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Joe Villeneuve Responded on 10/26/2010


Yes you do need financing for commercial real estate, unless you want to use cash...which means you only get to use it once. If you put together a good presentation, which would include the financials, business plan and executive summary for each property, you can still get deals done. You will still need access to at least a couple $100k in credit so you can move fast and maybe have down payment money, which can be returned to you from within the deal at closing. I found this to be easier than I thought it would be.
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