Multiplex financing

[John Hill]

BP, I'm looking for financing for a Multi-Family property in Utah. My hope is to put the least amount of cash down on the deal (less than 20%). Seller financing unfortunately is not an option on this one. I've visited local banks and 20-30% seems to be the norm. Any recommendations for a lending source would be greatly appreciated! I have more details to provide the lender via a private Message. I have experience in managing rentals and currently have 3 SFR that I rent. I have 720 FICO MID score and have been employed by the federal government for the last 13 years. I'm looking at terms between 3-6 yrs with a 30yr amortization. I would be putting 10% down. Deal is less than 350K. Private equity, commercial, Utah, salt lake, financing, hard money, capital, fund, John

[William Hochstedler]

@John Hill

Will the seller carry back a second?  For example, you may be able to get a commercial loan for $245K (based on a $350K purchase price) which would go to the seller.  In return, the seller carries a junior note for $70K and you come up with the remaining $35K.

Something like that.