a couple quik mentions...
> in this economy many traditional banks will ask for up to 50% down.
> with ur good credit, it'll help BUT most banks will tell u they expect good credit to loan.
> i've found the 'easiest' way is to look for private lending groups who will lend at higher rates, but take more risk. once u get going u can refi with a more traditional 'bank'.
> search out economic dev. in ur area.
> TRY the small business adm., but i've found that almost imposible.
> one of the best things going for u will be the rent rolls & the terms of the leases (when they expire, etc.), how much the owner has in security deposits, etc.
> WHY is the present owner selling?
> as u know most banks are 'dry' right now so it's a long shot.. BUT u may be ready for when the economy turns around, etc.
> read up or join a 'landlord' group.
HOPE some of these comments help.
- frank s.
Feb 9, 2009