Question by Luke: How do I purchase commercial real estate with a loan for private use?
I am looking to purchase commercial real estate for private use with a loan. I want the property in my name and not a business name. Do I need to get a commercial property loan or can I get a standard mortgage through my bank? I’m curious to know what my options are.

Best answer:

Answer by Landlord
You get a commercial loan in your name. You can’t use a residential mortgage for commercial property.

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Question by Sofia: Exiting a commercial lease early will affect my real property how?
My ex general partners want to close the business and exit the lease early. I am still on the lease with them. I have tried to get off of the lease, but the landlord won’t allow it because my partners have no assets, therefore they are a greater risk. I listed all of my assets on the lease agreement which us 3 partners personally signed. My main question is, can I lose my 2 condos over this. If yes, how? What happens? Can I claim bankruptcy? If I do, will I lose my condos, or will I be able to keep them. Will I need to hire a lawyer? How will I pay my lawyer, with what money?
The business is not making any money. The partners do not have money for next month’s rent…

Best answer:

Answer by open4one
The Partnership needs to hire a lawyer immediately to negotiate your way out of this lease, and to be sure that NOBODY gets anything out of the Partnership until that liability is covered.

If you just let this happen and do nothing, the landlord can sue you for any losses from the early termination. They’ll probably have another tenant in before the case is resolved, but then again, you might just find yourself on the hook for the rest of the term. I’ve no idea how much that is.

You personally don’t need a lawyer yet, the Partnership should hire one to resolve this before winding up.

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Question by Michael J R: Real Estate: Is there a reason why I can’t buy a commercial property and make is a residential property?
I found a great antique property on cape cod, but it is a commercial property. Can I just buy it and use it as a residential vacation home? are there tax or other rules against it?

Best answer:

Answer by realestatelawyer
The reason it is designated as commercial property is because of the town’s zoning map. You will have to get special permission from the town’s Zoning Board to convert it to residential property. Speak to the town’s administrator or zoning official to find out about the requirements.

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Question by Kate: Is anyone can get me example of real estate financial analysis in Excel for any commercial property?
I am looking for example of financial analysis in Excel format for any commercial properties . I would really appreciate help if you can refer me to any webs which got this info.
It is for analyzing cash flow

Best answer:

Answer by moonman
what do you mean by financial analysis? Do you want to analyze cash flow or what?

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Question by the screaming frog: How to find a good commercial real estate agent?
I want to purchase a commercial real estate property, preferably a retail or office property. How do I find a good agent to help me out since I’m a complete novice? Specifically, what are some good screening questions I should ask him/her to make sure they know what they’re doing- beyond just the standard “how long have you been doing this” kind of stuff?

Best answer:

Answer by elite_women_rule_the_rock
word of mouth is the best

you can talk to friends or relatives who have bought property and ask them

or you can look around and see what properties are for sale or have recently been bought call the new owners and ask them about their real estate agency

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Question by Mr. C: How do you progress in Real Estate sales as a agent and begin selling commercial and high end luxury property?
I have had an interest in Real Estate for some time now and am finally going to start pursuing it as a career. I watched these real estate shows where the agents are selling high end property and wondered to myself how did they transition from regular residential homes to high end property and commercial units?

Best answer:

Answer by Landlord
You can start high end right away, the agent finds their own clients, you pick your own market. You will be most successful if you pick the same market you are, people are more comfortable within their own class.

If you want to sell commercial you would need to go to a commercial broker. Since the laws vary so much very very few brokers do both.

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