had a lot of requests for private money loans on single tenant properties
lately. Both for new purchase loans and for the refinance of existing loans on
single tenant buildings. This property type is not a favorite of banks at the
moment.Â Even with long-term leases
in place, banks are turning their noses up at single tenant properties.
is where private money loans and bank loans differ greatly. Private money
lenders will lend on any property that is income-producing, regardless of
whether it is single tenant or multi-tenant. If the location makes sense and
the business or tenantâ€™s business inside the building make sense, a private
money lender is always willing to make a commercial bridge loan on an
income-producing investment property. When I say â€˜bridge financingâ€™ I mean a
short-term loan that allows the borrower time to refinance the property at a
lower rate sometime in the future.
you are looking to acquire a single tenant building and you plan on financing
the property with a bank loan, make sure you create a lot of alternatives for
financing. At the moment, it seems single tenant commercial is not preferred by
most bank lenders.
learn more about our bridge financing and private money loans for single tenant
commercial and other commercial properties, check this out: http://privatemoneyutah.com/loan-programs/