I am looking at purchasing a nnn property in kentucky, autozone is the lessee, 20 years term, purchase price is $600K. I have a fico of 800, down of around $200K (would rather do less), cap of around 6.1%. Any advice?
kerry
Full Version: Need commerical loan
QUOTE(kerry @ Nov 2 2006, 05:52 PM) 
I am looking at purchasing a nnn property in kentucky, autozone is the lessee, 20 years term, purchase price is $600K. I have a fico of 800, down of around $200K (would rather do less), cap of around 6.1%. Any advice?
kerry
This loan is a slam dunk. If you put down $150K, that would put your LTV at 75%. I have sent you a PM on how to contact me.
QUOTE(kerry @ Nov 2 2006, 08:52 PM)
I am looking at purchasing a nnn property in kentucky, autozone is the lessee, 20 years term, purchase price is $600K. I have a fico of 800, down of around $200K (would rather do less), cap of around 6.1%. Any advice?
kerry
This should be an easy financing. What matters is: What amortization do you want? a 30 yr will cash flow much better than a 20 but you will pay more interest. If this is a long term hold, you should consider non-recourse financing (6%-7.5% rates) but defeasance costs are high if you need to get out. You can also go with as little as 10% but the interest rate is higher. There are many options for you but you should make your choice based on what your long, medium and short term goals are. If you would like to discuss it further, don't hesitate to contact me.
Cheers.
Excellent, my personal email is paceast@verizon.net anmd I appreciate the advice. This is a long term hold so 30 year amotrtization is good. Any issues with a NNN lease?
kerry
This should be an easy financing. What matters is: What amortization do you want? a 30 yr will cash flow much better than a 20 but you will pay more interest. If this is a long term hold, you should consider non-recourse financing (6%-7.5% rates) but defeasance costs are high if you need to get out. You can also go with as little as 10% but the interest rate is higher. There are many options for you but you should make your choice based on what your long, medium and short term goals are. If you would like to discuss it further, don't hesitate to contact me.
Cheers.
kerry
QUOTE(archer35 @ Nov 3 2006, 02:48 PM)
This should be an easy financing. What matters is: What amortization do you want? a 30 yr will cash flow much better than a 20 but you will pay more interest. If this is a long term hold, you should consider non-recourse financing (6%-7.5% rates) but defeasance costs are high if you need to get out. You can also go with as little as 10% but the interest rate is higher. There are many options for you but you should make your choice based on what your long, medium and short term goals are. If you would like to discuss it further, don't hesitate to contact me.
Cheers.
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