Commercial property down payment assistance
Good Day BP!
I hope all is well. I have come across a high cash flowing commercial property with long term leases. Unfortunately I can not afford the down payment for this (about 300k) for a conventional loan (property is 1.3mil). I am also in the process of a rehab as we speak so liquidity is important. With that said I don't want to pass this one up, has anyone ever tried offering more and asking the seller to pay a significant portion of the down payment (85% of the 25% required). Would this work, especially with a lender if the seller agreed? If so please refer me to the lender that has worked with these scenarios. Or maybe I am just dreaming.
Thank you
Rion