Need Advice on financing a distant commercial property:

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 9.5%. 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.

I can find out about the LLC question, yet I don't think that it is necessary to use a local lender. If you would like I can contact lenders who would be interested and send you their analysis on the best course of action. Let me know!

If property in US, you must be a legal resident/citizen. Aside from that LLC is not an issue. If you are ready to out down 20% you should not have any real issues if the property carries the debt. If you have any questions or concerns, gime a buzz. Number is in the signature or email me. Thanks!