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victor56
182 Posts |
 Posted - 11/19/2007 : 7:24:11 PM
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| Just wondering if anyone out there does commercial construction deals. Friend of mine was curious and wanted to know if he could purchase a piece of land and convert to commercial then construct a commercial property. He is interested in building a small auto repair shop along with a small convinience drive thru on the same property. (2 businesses but one building split up into 2 sections) is this even possible? |
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dkendall1979
13204 Posts |
Posted - 11/19/2007 : 7:29:29 PM
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| Local bank is going to be the best way to go here. |
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KHufford
9469 Posts |
Posted - 11/19/2007 : 7:32:02 PM
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quote:
Originally posted by dkendall1979
Local bank is going to be the best way to go here.
Curious, why this is best? |
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Donald1955
6067 Posts |
Posted - 11/19/2007 : 8:02:44 PM
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Victor,
It's a mixed use property. Try:
Adams Financial Services, Inc.
425 North Alfred Street
Los Angeles, CA 90048
800-834-7775 Fax: 323-653-7805
http://www.adamsfinancial.net
antonio@adamsfinancial.net
Doing Business In: All States |
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ComLender
1266 Posts |
Posted - 11/19/2007 : 8:07:19 PM
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| Can do, give me a call to discuss. |
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EMScommercial
5141 Posts |
Posted - 11/23/2007 : 4:46:55 PM
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Please let us know if we can help you - I'm sure that if there is any financing options for your clients out there, we can find it in our vast internal database of commercial lending sources of which we broker for (currently stands at 200+ entries as of today).
Thanks! |
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swmsn
4209 Posts |
Posted - 11/24/2007 : 09:09:52 AM
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Kyle:
Cant speak for David but I think I know why he's saying that a local bank is the the way to go. For years Local banks were the go to. There were not many Commercial Lenders doing a variety of Commercial, especially A&D or Construction.
In Commercial Construction not many Commercial Lenders can compete with a local bank that likes the deal. Right now Construction has slowed down. There are Lenders out there that will do these deals and be some what competitive or will do a deal a local bank may not be bale to fit in.
If its not Construction though a local bank has higher rates, or worst features than what some of us can offer.
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mortgagemessiah
8003 Posts |
Posted - 11/24/2007 : 09:19:46 AM
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| Be careful of people saying they can help you before they look at the entire deal. Commercial consruction is getting harder to do. There are a few people on here that can give you honest feed back and won't collect a due diligence fee from you if they are not 75% certain they can do it. Shawn, Chris, Don and David (from above) are all honest. As well as Quicksilver and myself. There are a few more but those are ones I can think of off the top of my head. |
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jskolnick
263 Posts |
Posted - 11/24/2007 : 09:58:44 AM
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Victor,
Yes,it is possible. Commercial construction is different than residential construction which is disappearing quickly.
We are commercial mortgage brokers.
We can arrange any type of asset based lending. From lines of credit to accounts receivable, purchase order, equipment financing to real estate. We maintain relationships with a variety of different banks. This gives us the ability to offer the bests terms for loans from $500,000.00 and up. Loans can be submitted through our web site, www.greenmountainfs.com, via e-mail to greenmountainfs@gmail.com or call us at 516-596-1456.
Jerry Skolnick
Green Mountain Financial Services, Ltd.
by GreenMountain November 23, 2007
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