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Updated about 5 years ago,
2nd Lien Position Lenders
Hey BP,
My wife and I primarily focus on "sub2" acquisitions but run into the same problem, more deals than funds. Without credit or family and friends to rely on for funding, we find ourselves passing on more deals than we would like to. However, we have not been fortunate enough to connect with any lenders willing to lend in the 2nd lien position. I was curious if anyone on here could recommend a national or country wide lender that lends on a deal by deal basis (Yes I know, the better the deal the more likely-hood of them funding in the 2nd position) with ideal payoffs in the 3-6 months range.
Secondly, I was curious if a Transactional lender would be an appropriate substitute since they are already in the short term lending game or if I would have the same issue of them not taking on a 2nd position unless the deal screamed "BUY ME" at em.
Thanks and I look forward to reading your replies.