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Updated over 5 years ago on .

User Stats

67
Posts
15
Votes
Douglas Curtiss
  • Investor
  • Connecticut
15
Votes |
67
Posts

Unique Financing Question on Small Multi-Family

Douglas Curtiss
  • Investor
  • Connecticut
Posted

I have a unique (I think) situation.  I am looking to purchase a duplex / triplex in a Trust to have as a longterm buy and hold rental for cashflow.  The Trust has about 75% of the purchase price in cash. So I'd like to put down 50% and finance the rest.  The issue is, since it is in the Trust, I cannot personally guarantee the loan.  It has to be nonrecourse loan.  I've checked out the Mortgage Lenders and Hard Money Lenders here on BP and either they don't lend in Arizona where the properties are or they only lend short-term and don't offer lending for long-term buy and hold.  Does anyone have any recommendations?