Funding For Large Investment Property

[Thalia Mena]

Hi BP, I’m not new to the site but have posted on here a few times. I wasn’t sure if this was the best forum to post this question but here it goes:

I ran across an off market deal and the owner had proposed seller financing to me however, his dp amount was a bit too much for my budget. So I started calling in to different commercial lenders to go over my options. I came down to the conclusion that I would need some assistance with financing this deal.

This would be my first deal, although not my ideal way to start but the opportunity was given to me by a close family member. And I do believe it is a great investment!

This is a 7 rental unit 2 commercial space building in the appreciating neighborhood of Logan Square - Chicago. I currently live in one of the units and have been there for years.

How can I go about this type of deal (needing financing assistance-partnership)? What types of questions should I be asking this person? And how would the structure of a deal like this look like?

Thank you!