Second Mortgage with Owner Financing
I am in negotiations with a owner to buy a 4 plex with owner financing. She is holding the note for 25 years. I want to be able to place a second mortgage on the home in the future and she is saying no to that. Should I say no to this deal for that reason or do owner financing deals normally not allow for second mortgages. I basically want to be able to take equity out of this house and invest that into another property. Thanks for any advice with owner financing.