Here is a typical loan scenario:
Sorry to say but I just don't think we'll be able to help you make a deal that large ($3,876,000) work with just $2,000 in liquid assets. The appraisal alone on a property that size will probably run $3,500 - $5,000 and appraisal fees are always paid "up-front" at the time they are ordered.
Plus, I'd think it highly unlikely that anyone would allow you to tie up a $4 million property for any length of time without a significant earnest money deposit being placed into escrow. Even with the most creative financing and negotiating possible, you'd need $50,000 - $100,000 in liquid assets before you should even consider looking at a property that size.
Also, once you go larger than $1 million in financing, most programs require full verification of income and assets for the borrower which doesn't allow for some of the creative options you are looking for.
If you can find a property for UNDER $1 million and you can secure $5,000 - $10,000 in liquid assets (or cash and credit card availability) that you can work with, we might be able to help you make a deal like that work.
Let me know if you can find something attractive in the lower price range that I mentioned and we'll be more than happy to take a closer look.
Don't hesitate to call or email if you have any other questions.
Tony DeCresie
Your #1 Source for Commercial & Business Financing
Office: 863-298-8900 eFax: 863-877-4456 Cell: 813-833-3132 www.CommercialLendingPros.com
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