Updated over 9 years ago on .
Seeking Gap Funding In Return for 20% Equity
Seeking down payment/closing cost funding in return for equity. I'm proposing 20% equity in the property / 20% of the net cash flow. The property is in Upstate NY, college rented duplex. Rented through Spring 17'.
My goal is to acquire conventional funding from a local credit union.
Structure - Lender that is willing to take 2nd lien position to the credit union.
Exit Strategy - Refinance after 24 months. Lender get's original investment back + 20% of cash flow over 24 months.
Investment - $80k
Net Cash Flow (20%) - $2,794/yr
Looking for