Using OPM for Down Payment

[Matt Burr]

I am looking at a couple of deals where I can get a commercial loan on the propertise. However I want to barrow the down payment from friends that are interested in investing.

I am pretty sure this is very possible but need a few simply answers to get out of the gate:

1) What kind of note would you offer to the investor?

2) What if anything guaranties the note?

3) I assume banks will likely require that they hold the first position is this true?

Any other thoughts comments or experience would be appreciated?

Thanks

Matt