BiggerPockets

I'm seeking funding or JV partner for a 80 unit apartment complex.

90% LTV, 10% seller carry back
$2.2 Million
DCR 1.27 @ 85% occupied
Upside potential

Most lenders are not gonna consider a 10% seller carry back as a down payment. In fact I don't think any of them would. How is your credit score? Your business credit score? If you have a strong business credit score you can get a small line of credit, possibly enough for the down payment, then you can use that and a strong personal credit score to secure the financing. Good luck!

I found a lender that will accept the 10% seller carry back as part of the downpayment. This lender also said that they will finance the other 10% in a mezzanine loan bringing the LTV to 80%. We will see what happens, so far everything is working out!

Mario,

I would have had to come up with the appraisal and closing costs as with most of the creative financing lenders that I contacted.

There are services around that too that I found!

Greetings Shannon,
For future reference;

I am an independent commercial financing specialist. I affiliate with Lee Arnold and [LINK REMOVED]
[LINK REMOVED]

I also own and manage a private investment company that provides bridge funding for Distressed and Value-Added commercial opportunities. I work as an intermediary between your requirement for funding and a New York City based hedge fund.
[LINK REMOVED]

Shannon, i would love to talk to you regarding the creative lenders that your found.. drop me a line when you get a chance..thanks