Updated about 7 years ago on . Most recent reply
Is This Deal Suitable For Private Money, Hard Money or Bank Loan?
Good day.
Who's an ideal lender (private, hard money, bank, etc.) to finance a purchase where the seller agrees to hold a 2nd at 25%?
I just got an opportunity to acquire two very profitable investment properties, one 6-unit and one 7-unit in NJ. The purchase price for both properties is $300K and the seller will hold $75K. All of the 13 units are occupied and the NOI is $65K. Being these are commercial properties - the value is based on cash flow. As a result, the LTV would be 38%.
The deal is under contract and ready for funding.
Who should I approach to fund this purchase?