Any 2nd lien Note Buyers? Or is there another way to structure this $2.28 million deal?

[Belinda Lopez]

I'm working with a seller of a $2.28 million dollar RV Park. We just found a commercial lender to lend for $1.75 million, $200k cash from buyer and the seller is considering taking the rest in the form of a $484k Note.

I've found very few potential Note buyers for that 2nd lien and was wondering if anyone here buys such Notes? Or if anyone has any ideas of another way to structure this deal?

Originally, the seller was going to do the 1st lien of $1.75 million with the balance in cash from the end buyer but now this allows the end buyer to come in with less cash at closing and use the rest to expand the park.

[Seyi Wey]

Belinda,

Congrats on such a great deal. Sounds like lots of fun working through the up & down financing issues. i haven't read all the answer written by other BP members to you question, but i have faith its all informative.

While you find BP site a place for resource, also check out Dave van horn of PPR, he a member and the owner of (PPR). The company buys and sells (predominantly) 2nd liens. give him or his company a call, it could lead to successful and efficient close to your deal.

Good Luck let us know what comes of it all...