2 funding needs

have a client recommended to me from a former loan officer who works for major bank...he generally sends loans to me as he worked for my retail broker house for 20 years;;;;

A mother owns small one story storefront building on main street in washington dc,,,she is in bankruptcy....building is one of her assets but the bankruptcy judge will let a buyer purchase building if said buyer pays enough to cover existing encumbrance of $247,000 ...

buyer would be son who wants to keep building in family..he is experienced..good job(Government) ...has investment properties ..although building is now vacant he can produce a lessee which will provide more than enough to cover debt service and expenses...he also has excellent credit... and if he needs others on mortgage..my former loan offices tells me that he has a number of other partners he can use....

any thoughts....building is assessed for 2019 by the District of Columbia for $325,000...but if the son purchases the building...the district will give him...(or another purchaser) a development grant of $50,000 for build out and any renovations.which would of course increase as completed property value......

any ideas...c

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