Financing- I need a creative way to come up with down payment

[Maria Lugo]

Hello Everyone, 

I found a multi-family complex I want to purchase in Florida. I need to figure out how to make the financing work for me. Any suggestions?

Thank You

[Don Konipol]

@Maria Lugo

Hard money lenders typically only lend on a. First lien basis, so you can’t borrow the down payment from them.

Most lenders want a borrower to have a certain amount of skin in the game, so LEGALLY being able to put together a nothing down deal is MUCH more difficult than it used to be.

A good-great deal can be syndicated, but the money investors want the vast majority of equity ownership, leaving relatively small amount of equity for the “promote”.

Much depends if you will be investing most of the down payment from personal funds, or if you have no money to invest and need to do “ o thing down”. If the former, finding a partner isn’t all that hard, if the latter you would usually need averifiable track record of success, or a rich uncle who makes the decision to invest based on non business criteria.