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Updated over 8 years ago,
Lenders who will lend for 300k DP on 85 property portfolio
I have been given an opportunity to purchase a portfolio of 85 properties that each net ~$250 a month (if 80 are rented, 20k in net a month). The seller who is looking to retire is willing to finance the whole portfolio for 4% interest with 10% down (That comes to right at 300k).
Being new to this, I have enough saved to cover a reserve. Are there Hard Money lenders who will lend for a secondary lien? Or does anyone have any strategies on how to approach this. I have a few ideas, but I would appreciate any advice I can get before I post it.
TLDR: I have the cash flow to afford a loan to cover the DP, but I do not know who to go to get it.