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Can I get a commercial loan without 25% down?
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We were. Held onto it because we weren’t ready to sell and brought in new (good) tenants, even aligning to the local university’s typical move in schedule. Then the HVAC went out, the bathroom tub leaked, contractors were impossible to bring in in a timely fashion, and the out of state travel to manage it became unmanageable. Sad to be selling but our time with it is sunsetting. (If you’re looking for a 3BR/2BA detached home in Nashville with a yard and new HVAC, flooring, and garden tub, DM me!)
lol if not this audience, who? 😆 Sylvan Park and haven’t set a list price yet but that area is 700-800s with a high range above and below depending on house. 🏡
No nooo OP—You shouldn’t do that! I think of commercial real estate like bonds. Other than this girl from my freshman year in college whose parents bought her some security from Disney because it had cartoon characters on it, I never see people get attached to bonds. Now cars, that’s a different story for me.
Totally. Have you calculated your “return on equity” that’s always a number that helps me take some of the emotion out of the decision.
How do you calculate it?
We always run the numbers to show the actual benefit from an exchange. It helps us justify the decision including equity we build and future cash flows. These are buildings/properties and we have to remind ourselves that we do this to keep from being tied to our jobs as well as building generational wealth for our kids (and their kids, hopefully).
They are my babies