I wish to buy/hold retail property. I am new to the business, no credit, would bridge loan be the best finance

I've located interested properties, unsure of steps to take to obtain a cashflow property. Any advise/suggestions?
In Buying Property - Asked by Denise C. - Oct 7, 2010
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Answer(s)

Frank N.
Broker/Agent
Phoenix, AZ

Being new to the business and having no credit, it is going to be tough to get banks interested in making any kind of loans in today's economy. You may have to get creative to control cash flowing properties. There is some hard money available, but the higher interest rates can eat up any possitive cash flow.
We have had ecent success with master leases and options to purchase. These can be structured in a way that accomplishes the same as the old "Wraps" that were popular 20 - 30 years ago. The drawback is that you have to bring something to the table that the owner needs or wants and can add value to the property in a way that the owner can't (or isn't willing to) In other words, you have to shop for the deal as well as the property.
If you would like to discuss a specific scenario or specific property, call me at 623-217-0432

Oct 8, 2010
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anthony c.
Broker/Agent
Fort Lee, NJ

hi call anthony for all the info
on how to do this
anthony 201-832-2087

Oct 8, 2010
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Anand B.
Broker/Agent
Arlington Heights, IL

Contract Sale is the best option. As a broker, I've helped organize several of these and they work out well.

Oct 11, 2010
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Jeff R.
Lender/Mortgage Broker
Birmingham, MI

Bank financing would not be available for you, at this time, Seller financing is the only way.

Dec 24, 2010
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