Looking for Financing

[leewnr]

Hi All,

I have a deal that I already have under contract.

Deal
$400,000
Seller is willing to hold back 90%. He wants to be the bank
Seller wants me to come up with the other 10%.

Looking for someone who will fund the 10%

Anyone know any good brokers?
Will I be able to do this deal with no money down?

Thanks

 

[leewnr]

I just talked to someone who said they could if the seller is willing to be second mortgage and the person giving me the 10 will be first.

 

[Thomas Beyer]

You are looking for a JV partner. Most mortgage brokers do not do equity but some do. What is your expertise to manage this asset impeccably ? Feel free to message me as I may invest. Or put in in the ad section of myreinspace with pertinent details. It may be a great deal or it may be lousy depending on asset price, interest rate on the 90%, property condition, property location, property upside and: YOU.

 

[leewnr]

Not looking to partner on this deal. I have the cash but I do not want to use any of my own money. The lender has agreed that I should have no issues. Thanks

 

[Thomas Beyer]

Any seller would be a fool to allow 90% to be in second position.

 

[leewnr]

Those are the only people I look for. Seller has agreed.

 

[Thomas Beyer]

Well then go for it.