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Corsa Sport » Message Board » Off Day » House Day » commercial mortgages » Post Reply
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Cosmo |
posted on 12th Nov 06 at 12:43 |
find another investor for the other 15%...would probably have to be someone you know as not many investors would buy into a business being 85% funded by a loan. | |
Jodi_the_g |
posted on 12th Nov 06 at 00:31 |
Basicaly I can get an 85% one but need 100% or 95%. | |
Colin |
posted on 11th Nov 06 at 23:29 |
What sort of business??? | |
Jodi_the_g |
posted on 11th Nov 06 at 23:27 |
I just done a basic commercial mortgage application form on line and have been approved for a 85% in principle but there is no way I can get that kind of deposit. | |
Jodi_the_g |
posted on 11th Nov 06 at 23:24 |
He sold land next to it, eariler in the year to cover his mortgage to build three houses on it. | |
Shelly |
posted on 11th Nov 06 at 23:21 |
Because he is too pissed to open during the day and can't be bothered with entertainment to get the people in and buying... | |
Ian |
posted on 11th Nov 06 at 23:16 |
If it'll do so well why is the current owner selling up? | |
Jodi_the_g |
posted on 11th Nov 06 at 22:52 |
I understand the business plan bit and thats not a problem. Was just summing up the problems at the moment. | |
Colin |
posted on 11th Nov 06 at 22:49 |
Approach the bank with a business plan. | |
Ian |
posted on 11th Nov 06 at 22:41 |
You would need a proper business plan in order to borrow in this way, which wouldn't just comprise of saying the only problems are that he's never open. | |
Jodi_the_g |
posted on 11th Nov 06 at 22:30 |
Not a buy to let, to buy a business. |