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Financing help! Family friend came to me with 7 properties!
Good afternoon, a family friend came to me with a deal on 7 properties. We haven't lined everything up but I have a question regarding financing. I'm expecting to acquire these for below market value. Any idea if a lender would be willing to accept the equity in the properties rather than requiring 20% down? I'd be talking about a commercial property.
Any other options I might have? They are all smaller single family homes. I expect values to be $70-80k each but hope to get them for $50-60k each.
I have options to tap for extra cash but would prefer not to.