Seller carry back lender

[Amritpreet Singh]

Looking for lenders who can do this structure:

• 75–80% LTV in first position
• Seller carries the remaining 20–25% as a second
• Seller second can have a balloon (36–60 months)
• Property price range: $80K–$140K
• Rental property (Section 8)

[Erik Estrada]

Quote from @Amritpreet Singh:

@Erik Estrada 25-30k would be financed by the seller right for the down payment and closing cost? And if I bring in a JV partner how would I be able to structure the deal? If I can do 75% LTV, and have the seller finance the rest, being $0 out of pocket. What would I need a JV partner for? Please let me know. Thanks

If you have a JV agreement you don't need to structure any seller carry back. Your partner will contribute the funds for closing with $0 out of pocket for you.

What's the point of the seller carry back? You still need to repay it in 3-5 years once it balloons? Unless the property is priced WAY under market value, or needs rehab, I don't see how you would exit from that loan?