Quote:
Originally Posted by red-beard
20%?
It's more like 40-50% down. The banks are crazy conservative now.
I'm working on buying a small strip center!
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I'll second Red.
I'd be very leary of dealing with a bank that told you otherwise? Of course this is for COMMERCIAL property that we're talking about.
In addition, you better have deep pockets, similar to the development game; often you have to be patient for the returns to show up; years patient.
Nothing a good business plan can't overcome, but I've been in the commercial development business for many years and its not a simple concept; most of my clients were "all cash" with deep pockets.
Red: Good luck on your strip center, that's exciting!