Alba CPA Blog - Unique Tax Strategies from a NJ CPA point of view
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Alba CPA Blog

Income Tax, Tax Services / 15.10.2014

  Boulders: Sourcing the money: Unlike conventional lending, for commercial property purchases you need to source at least 25% for a down payment. In my experiences, most lenders asked for 30-35% down payment in order to secure financing. This was news to me as I was only prepared to put down 20%. I strongly encourage you to work with multiple financing sources and start your process as early as possible, as it can be a lengthy and frustrating one. I began the process by working with a broker, until I learned that the terms, fees, and down payment terms were not in-line with my expectations. This was two weeks into the process when I decided to look for a new source of financing.
Income Tax, Tax Services / 15.10.2014

I started my career in real estate like most do, reading books. I read everything from residential to commercial, books for real estate agents and for regular investors, learning a lot in the process. It wasn’t until I handled my first real commercial deal that I put that knowledge to the test. I was in for a shock. There isn’t a better teacher than experience. With that in mind, I wanted to share my inside experience with the readers, and pass along some valuable lessons I learned along the way. Pebbles: Understand your local real estate market and explore the fundamentals of commercial real estate investing. I can say this was the easiest step in my journey. I spent countless hours perusing MLS and driving around the neighborhood in search of properties and evaluating the area.