Updated over 7 years ago on . Most recent reply
Trying to Buy Portfolio While Avoiding Big Downpayment
Friend of mine has been offered a portfolio of properties, 4 buildings, 3 of which have commercial units downstars, 25 total doors, appraised value $3.5M. Borrower can buy it for approximately $2.5M. Except the borrower would need to put down approximately $500,000 minimum, and he doesn't have that.
He does have a few other SFR properties, but can't sell them in time to make the deal work.
I told him he needs a private investor, but it doesn't seem he's going to find this.
Solution?