Updated almost 5 years ago on . Most recent reply
Seller Finance the Downpayment?
I met with the more experience investor yesterday over coffee. I asked him about a potential 8 unit deal. We talked about seller financing and he suggested that I ask the seller to carry a note for the down payment and a small reserve. Then go to a local bank for a commercial 75% LTR loan. The seller would have a 2nd behind the bank. Have any of you done this? Are banks open to it?