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Updated over 7 years ago on . Most recent reply
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How can I fund a residential property with Private Money (I have)
I have a friend who will fund up to $30,000 that I would like to use as a down payment for an single family investment property.
How do I get his money into the deal as the down payment?
Most Popular Reply
The $30k you borrowed from your friend to put down will be the first position of lien. Banks will not finance you the rest with borrowed down payment. Will your friend be willing as a second lien? If so, you can work out with other private lenders and have other private lender as first, and your friend's money as a gap.