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Updated almost 9 years ago on . Most recent reply

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34
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28
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Michael Brown
  • Investor
  • Newburgh, NY
28
Votes |
34
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Owner Financing the Down payment

Michael Brown
  • Investor
  • Newburgh, NY
Posted

I am in the process of buying a building in Jersey City, NJ. I am not able to come up with the full 30% down payment. But, I can come to the table with 10% of the deal and all closing cost. I would like for the owner to finance the remainder, as they are motivated to sell and I am experienced with building in this area.

I am looking for any suggestions on how I could propose this. Thoughts?

Most Popular Reply

User Stats

610
Posts
131
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Nathan Click
  • Lender
  • Morrisville, NC
131
Votes |
610
Posts
Nathan Click
  • Lender
  • Morrisville, NC
Replied

@Michael Brown - Think about setting up a 75/15/10 capital stack.  75% standard financing, 15% seller carry and 10% you.  That should be a doable deal for a financing institution depending on the property type and class.    

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