Thanks for the feedback so far. The property in question is not a residential home/multi-home. It’s a commercial land with currently a fastfood restaurant on it. Lease is with fast food corporate company is renewed every 20 years.
…But anyway, wanted to figure out for a commercial loan what typically would be a downpayment amount (20% or more?) and what sort of interest rate would the loan be seeing if say said property was about $2million. Want to see if it’s feasible for said relatives and possibly myself to buyout said partner
(who is a fvcking scumbag BTW…I’m sometimes amazed how fvcking low someone can stoop when it comes to money, even it it means attempting to screw over really really close friends from 40+years…The dude is closer his EOL, and he’s still trying to rip people off..Amazing…Simply amazing…).
