Private Money needed
My business partner have been working on securing a equity partner, private lender or a hard money lender on a 7.1million dollar industrial warehouse/office property. We had a "supposedly" interested party, but as you can imagine the closer we got to the "show me the money" part, it became clear that he never was capable in the first place.
We have a very compitent team comprised of a very seasoned commercial RE broker as well as a business attorney and a RE attorney. Our broker has expressed serious intrest in this property, but without the capital to tie up the property as well as a down payment, we are on hold. Here comes the more creative part, the seller is willing to carry 90% or more, depending on the terms.
Any suggestions on where to look next.?