Seller financing on a commercial transaction

[George T.]

Myself and my partner are currently under LOI for our first self-storage facility.

We have negotiated a 53% owner financing on the deal and I wanted to ask all storage professionals if you have any advice / tips for getting the remaining conventional financing from a bank / lending institution.

This is our first owner financing transaction and we would definitely appreciate any tips / suggestions from a lending side as we have started our due diligence period.

[Sam B.]

@George T.

Looking to see what other more experienced investors say but my understanding is that the bank will want first lien and a dscr of >1.2x. They will count the seller financing as debt.