Seller Second (Carryback)
Just curious if there are still any lenders out there (community banks, etc) that permit partial seller financing? Is this totally a thing of the past?
I have plenty of cash to put down the 25%-30% for several deals of the size I typically invest in (SFR in the $90K-$130K range), but would be interested in a larger deal if it passed underwriting.
A local investor is selling a group of turnkey SFR rentals. If I could purchase say 10 for $100K each ($1M total), putting 15% down and having seller carry 10%-15%, the cash flow would work very nicely. Just not sure if that is something that would ever fly with any banks in the current lending environment.
I'm assuming a conventional mortgage is out... was considering a commercial (blanket/portfolio) loan since I'd be buying a group of SFRs.