Funding for RAL purchase

[Donna Givens]

I am wanting to purchase a turnkey RAL property and need help finding funding source for 10% of the project.  How would you approach this, and who would I ask?  

SBA 7a loan will be the other 90%.  I need about $100,000.

Thanks for any suggestions or resources.  

[Don Konipol]

Quote from @Donna Givens:

Quote from @Don Konipol:

Quote from @Donna Givens:

I am wanting to purchase a turnkey RAL property and need help finding funding source for 10% of the project.  How would you approach this, and who would I ask?  

SBA 7a loan will be the other 90%.  I need about $100,000.

Thanks for any suggestions or resources.  

Doing a deal with 100% financing means someone is betting on YOU for all investment above the usual 70 - 80% LTV. (The 70-80% LTV is primarily a bet on the PROPERTY). To be able to arrange this kind of deal where someone is betting on you and replacing what would normally be YOUR 20-30% cash contribution you need to have extensive knowledge of real estate principles, real estate finance and real estate law in general, and the type of real estate you're trying to finance. You need extensive experience in same, almost always with a verifiable track record of success. And you need to show a personal financial statement with a healthily net worth, showing where your assets are tied up in illiquid investments and why you can't invest personal cash without suffering a servers liquidity discount if you sell assets.

Thanks for the comment. It’s not unusual to see articles, books and podcasts on here and elsewhere on “how to get started with no money down” or “use other people’s money”.  Is that really so unusual or risky?  

“No money down” is a LOT harder now than in the past because of legal issues regarding mortgage fraud, the concentration of title insurance into 11 major issuers, and the instant availability of data.  
More specifically, the majority of the “cheer leading” information you find concerning how ANYONE can purchase real property without “money, credit, or experience” is categorically untrue and put forth by people with a “bias”, usually something to sell.  The rest is put forth by people with either a “hidden” agenda, or who really are clueless.  Is it POSSIBLE for someone inexperienced with no capital to purchase a property and maintain a decent percentage of ownership?  Well, yes it’s possible.  Probably odds are less than winning $100 million in the super lottery, but someone, somewhere is doing it.  Just as buying lottery tickets isn’t a good retirement funding strategy, spending time chasing a deal with no money and lacking experience and knowledge isn’t a good wealth building strategy.