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Invest in Property LLC Using Leverage?
I'm looking at a commercial multifamily property that's owned by another investor. Property was purchased at ~$1M and is valued at ~$1.5M. This investor has debt on the property around $650K. The property is in an LLC.
I have the option to invest in the property at cost up to 50% (i.e. I could buy half the property for what the other investor paid, 500K = 50% even though it's worth more).
Is there a way to get a commercial loan (i.e. 20% down) to buy into the LLC? I.e. come up with $100K (20%) and the bank supplies the other 80%.