Funding - Need Help Finding

[Johnny Maykin]

I have submitted an offer on a hotel and need to find an additional $150K to finance the deal.

[Jon Holdman]

You won't give away anything useful as long as you don't give a location.

How much are you paying? How much of your own cash do you have in the deal? Is this buy and hold or some sort of flip? How long do you need the money? What sort of rate are you looking at paying?

Also be helpful to know something about the income and expenses on the property.

For some guidelines, HMLs rarely go above 70% LTV. So, if you're financing the 85% of a $1million purchase price, and looking for the last 15%, forget it. If you're buying for $500K, getting the owner to carry $200K, putting in $150K of your own money and you need another $150K, then you might find a taker if you have a plan to get their money back to them in six months to a year.