Do I have to have a ton of cash to purchase commercial real estate?
I have been eyeing a multi occupant commerical property that houses a daycare, salon, 2 apartments and a vacant office good for a small business. 

Its going for 450,000. I will reach out to a commercial lender to get in depth details but for general conversation what's the chances of a brand new, young professional acquiring a property like this for investment sakes? I have 60,000 to put to it.
[{"id": "fqbordr", "text": "You will generally need at least 30% down for a commercial loan. Maybe you can find a bank to do 25%. \n\nI have only seen 20% a few times but they had very established relationships with the bank. \n\nYou are below even that so it wont happen.", "replies": [], "depth": 1}, {"id": "fqbrf9g", "text": "One important thing to remember is that you'll have expenses; loan payments, taxes, utilities, maintenance, etc. A new roof can cost you six figures, HVAC can go out, floods and fire can happen, and all that can get expensive quickly. The property may cash flow now, but if one of those tenants leaves, you could be up a creek. You'll want a decent cash reserve on hand, or at least a source for temporary emergency funds.\n\nPersonally, I shy away from anything with residential units, too many protections and pitfalls. Anybody who says that residential units are easy to manage hasn't had to deal with a broken pipe at 3am, or a tenant who won't pay and won't leave.\n\nIf *I* were in your shoes, I might look for something cheaper (for the reason the other poster said) and easier to run, since you're just starting out. What about a fenced-in RV parking lot? People need to park RV's and boats, they're willing to park on gravel, and you could build the thing yourself for pretty cheap, keeping your loan-to-value ratio lower.", "replies": [{"id": "fqbs5qy", "text": "Wow. That is extremely clever. Have you done this out yourself??", "replies": [{"id": "fqbt0bg", "text": "Perhaps. \n\nWith a good software suite (SiteLink is the best, not paid to say that), tied into an automatic gate, and a handful of cameras, you can have a fully-autonomous secured parking lot on the cheap, especially if you rent a skidsteer or two, grab a buddy, and do most of the site work yourself. It's fun.\n\nFind cheap dirt, on the periphery of suburban development, and you're golden. Go on google earth and look at driveways, do you see a lot of boats and RV's parked in front of people's homes? Even better.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fqbrwp9", "text": "You\u2019ll need 30% down for sure on something like that. I\u2019ve seen 20-25% down but on much bigger or less risky properties. If you can find someone who will give you 80/20 the interest rate is probably going to be an issue", "replies": [], "depth": 1}, {"id": "fqbtbf3", "text": "20% down was around for awhile from some community banks but unlikely to be the case in this environment.  Two other things working against you: 1) Covid, in terms of buying a salon and office space 2) You will need some level of reserves in cash.", "replies": [], "depth": 1}, {"id": "fqbw0iq", "text": "Min 20% down (90k) down , slightly higher interest rate. Try to get someone go with you.", "replies": [], "depth": 1}, {"id": "fqc1981", "text": "What everyone says is true.  Estimate 30 percent down plus reserves.  I will throw out one other possibility.  It's unlikely, but you can also ask the owner if he wants to finance it himself.  It's rare but does happen.  You may be able to work out a lower down payment", "replies": [{"id": "ft89pnq", "text": "Seller financing is pretty common.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fqctmyp", "text": "You, personally: no. You\u2019ll need access to what the others have said, but the funds don\u2019t need to be all yours. In other words, you can have capital partners in the deal to help source the equity. This is common in CRE and almost solely how all large deals are done.", "replies": [], "depth": 1}, {"id": "fqfu1fx", "text": "NNN deals where the tenant are responsible for all expenses (taxes, insurance, maintenance) are ideal ie single tenant industrial/retail buildings. You\u2019d have to ensure that the tenant in place are strong before making decision. Another option is to consider a multi-family home with no more than for units that you\u2019d be open to occupying in one of the unit.  You can get in with FHA Loans as first time buyer at our very low down payment (3.5%). Covid-19 may change the lending climate, but worth exploring so you can do other stuff with the cash you saved on down payment.", "replies": [], "depth": 1}, {"id": "fqgkg07", "text": "I have never bought a single commercial property, but I have helped finance more than a hundred. In a normal environment, the lender might not discourage you up front, but he will certainly be non-committal about it.\n\nThe first thing that I would want to know would be the rental income, expenses, and net operating income for the building. There is a significant possibility that the price might be inflated, as the seller is probably calculating the NOI assuming a fully rented building, which it isn't. Furthermore, it is probably low balling the expenses.  \n\nAs others have mentioned, it would be rare to get this done with less than 25%. You could probably do 20% but you will have to shop around some and you might not get as good a rate as a 25% or 30% down deal.  \nBefore talking to a lender, I would speak to the seller and get a Profit and Loss statement as well as a rent roll indicating the lease expirations and run some numbers. \n \nThe above is in a normal environment. In today's environment that Salon is probably closed and asking the landlord for rent deferrment. One or both of the residential tenants are in the same boat, and the office space will be competing with a ton of office space that will be vacated once landlords are allowed to start evicting tenants. My recommendation, do not buy office and do not buy retail. The safest space right now in Multi-Family as people have to live somewhere. But even that will go through some pain.", "replies": [], "depth": 1}, {"id": "fqic5x2", "text": "You do not meet the **legal limits** for the minimum amount of equity (15% LTV).", "replies": [], "depth": 1}]