Archive for Mortgage
Feb
24
Types of mortgages for a commercial building?
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I am trying to purchase a mixed use building (5 residential units and 2-4 commercial stores) in NJ. I know that commercial mortgages are a little different from home mortgages (i.e. there are no 30 year loans).
What different types of mortgages are available for purchasing a building like this?
Also, the money borrowed to buy a home is called a mortgage, is it also the same term used for buying a commercial property?
Quick Property Sale
Jan
31
Can u take out two mortgage on the same commercial property in order to purchase it?
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Wanting to purchase some commercial property for a large amount. I was thinking if I could take out two mortgages at the same time against it in order to have enough for the down payment of that property
Quick Property Sale
Sep
01
I am looking for a mortgage on a home that is currently residential, but zoned commercial/mixed – the house would remain residential – I need to find a company that can handle that kind of mortgage.
Real Estate Professionals
Aug
28
Jul
31
re: Capital gains tax on sale of commercial property?
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I own a Tenant-in-Common (TIC) interest in a com’l property.. The property is currently in the process of being sold after 5 years. My question is: We have paid down the mortgage over the 5 years about 60,000 with funds collected as TAXABLE rent. Now with the sale, I will recoup those funds. My CPA insists that this portion of the proceeds will be taxable… Being I’ve already paid tax on these funds, I don’t understand why I can’t get those fund back tax free and have to use them in a 1031 exchange (ps… I fully understand that the mortgage is a balance sheet item, but I still think I should get those $$ back tax free. Please HELP… thanks, Herb
Passive Income
Jul
08
What it terms of zoning does commercial local mean?
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We’re trying to be a house and the property is zoned commercial local therefore making it harder to get a mortgage
The property has two buildings on it – one a century home and the other is an old store that isn’t currently being run as business. The area is quite rural – the town itself maybe has a pop of 300 so there isn’t any worry about big businesses moving in.
Sell House Quick
