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ttime
08-27-2005, 06:47 PM
Need Advice on financing a distant commercial property (2000 miles away):

I am interested in obtaining funds to purchase an almost NNN commercial property which is 90% occupied with leases expiring from 2008 to 2010. The CAP rate is 9.0%. This would be my first commercial investment. I am ready to put 20% down from my personal funds.

I would like to know which state I should establish the LLC as the property I have located is 2000 miles away from my residence and how to approach the financial institutions from that town/state to review my application favourably. My personal credit history is excellent however LLC has no history yet.

Any advice is most welcome.

BusinessMan
10-06-2005, 05:43 PM
I'm not sure I fully undetand your concerns here. On the face of it, the two options are to establish your company where you reside, or to establish it where the commercial property is.

If it's as simple as that, why would you want to establish it 2000 miles away? There is no need that I can think of to force the owning company to be in the same locale as the property... yet many day to day operations would surely be simpler if they were local.

fillidave
05-31-2018, 06:19 PM
If you are looking for a small business loan, i recommend you start with this article: http://b7y.us/SmlBizLoansHow2INC. It explains the best approach to getting a loan.

tuantranbk
06-03-2018, 04:28 AM
I'm not sure I fully undetand your concerns here. On the face of it, the two options are to establish your company where you reside, or to establish it where the commercial property is.

If it's as simple as that, why would you want to establish it 2000 miles away? There is no need that I can think of to force the owning company to be in the same locale as the property... yet many day to day operations would surely be simpler if they were local.

Many thanks for the note

whitecollar29
10-13-2018, 03:51 AM
I think an impressive proposal letter will help attached with your credentials. Or, if possible look for a financial adviser who can help you with this matter.

clarc
11-03-2019, 01:56 PM
There's really no way you can mask the fact you are using the released funds to purchase a property that's currently commercial, nor the fact that the onward purchase is (potentially) through a limited company.

speeduser
12-23-2020, 01:25 AM
The more advise you seek, the more chances you will have it clear. Experience is a good teacher, you know. - Paul Savramis (https://www.linkedin.com/in/paulsavramis)

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