I have a client that wants to purchase a 9 unit building in Chicago. They have 40% to put down but the problem is they are Canadian citizens.

Asked by Riccardo Wardlow, Bolingbrook, IL Fri Jan 18, 2013

I am trying to find a commercial lender to do this deal. The purchase price is 139k. 40% down payment. Any help would be great.

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JIM Michaels’ answer
JIM Michaels, Agent, Chicago, IL
Tue Jan 22, 2013
Also try calling http://www.unitedequity.us/our-team.htmlWieslaw (Wesley) Jura Vice President. NMLS ID 225274. Direct: 773-304-3412. Fax: 773-283-2788. Cell: 312-405-2404. wjura@unitedequity.us
0 votes
Manuel Brown, Agent, Chicago, IL
Sun Jan 20, 2013
Sounds like your buyer needs a hard money lender http://www.selectfundingchicago.com/

Good luck/
0 votes
, ,
Fri Jan 18, 2013
Let me clarify, if they're trying to finance the property with a personal guarantee, if it's a corporation that's housed here in the states, that's a different story but I get the impression that's not your situation.
0 votes
, ,
Fri Jan 18, 2013
Most banks won't lend to anyone (commercial or residential) who aren't at least permanent residents. You'll have the most luck reaching out to a small local or regional bank who has more flexibility with how they'll spend their money. Big banks are usually looking for 1-2m+ commercial deals so your chances are much lower there but it's possible. As times change, in 3-5 years for instance, the answer to this question could be the opposite.
0 votes
Matt Laricy, Agent, Chicago, IL
Fri Jan 18, 2013
Try calling Tony Lupescu, 708-351-6416.
0 votes
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