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Private Money Lending Blog

Corey Curwick Dutton

By Corey Curwick | Mortgage Broker
or Lender in Salt Lake City, UT
  • Single Tenant Properties - Not Preferred By Bank Lenders

    Posted Under: Financing in Seattle, For Rent in Seattle, Investment Properties in Seattle  |  February 28, 2013 11:44 AM  |  406 views  |  2 comments

    We’ve 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.  Even with long-term leases in place, banks are turning their noses up at single tenant properties.

    This 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 tenant’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 ‘bridge financing’ I mean a short-term loan that allows the borrower time to refinance the property at a lower rate sometime in the future.

    If 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.

    To 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/

     

     

 
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