Updated almost 10 years ago on . Most recent reply
Private Money Structuring - Apartments
I am in the process of vetting a few different small apartment properties. That being said I have some private money lenders that are interested. My problem is, I don't know how to structure the loan.
To give you a few details, a 28-unit complex is listed for $850,000. Seller is asking for 25% down and is willing to do a LC, 7 year term amortized over 20 years. If I had one investor to give me $212,500, how should I structure repayment? Need more information?
Appreciate the help!
Steve Lyman