If the commercial property is currently being helpd in a trust or other entity, you might be able to assume ownership of that entity and refinance the property.
Here is how it works. The property must be the only property held by that entity. You will propose to the seller that you become a member of their entity with the right to refinance the property within a specific period of time or else the contract is null and void. You don't have any other rights than to refinance. The property you are looking at must have sufficeint cashflow to cover the refinance amount and the LTV meet the lenders criteria or slese they will not refinance the deal. In most cases, you will have enough money from the refinance to pay off the underlying debt and pay the sellers some money. If the refinance amount is not sufficient to cover the purchase amount, then you will want to ask the seller to carry a second position note secured to the property.
Why this works.....you have credit history by piggybacking on a seasoned entity and you are refinancing instead of getting a new loan. These two factors make it a lot easier to secure new financing.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125