Updated about 6 years ago on . Most recent reply
Private money for down payment
We are currently under contract on a mobile home park. One of our bankers is working on the loan for us, but we will need between $300K-400K for the down payment and we would like to get a private money lender that would like to do a loan for the down payment, hopefully interest only for a few years, while we bring the park up to a significantly higher value. We have the ability to do the down payment with our lines of credit, but we would like to be able to use those lines for improvements. Does anyone have any suggestions or feedback in this case? Anything is greatly appreciated!