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Updated over 5 years ago on . Most recent reply
Private money for down payment
We are currently under contract on a mobile home park. One of our bankers is working on the loan for us, but we will need between $300K-400K for the down payment and we would like to get a private money lender that would like to do a loan for the down payment, hopefully interest only for a few years, while we bring the park up to a significantly higher value. We have the ability to do the down payment with our lines of credit, but we would like to be able to use those lines for improvements. Does anyone have any suggestions or feedback in this case? Anything is greatly appreciated!
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Fort Worth, TX
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Fort Worth, TX
@Blake Walker this seems to be more of a "commercial" type scenario. This forum, in generally at least, is usually for the 1-4 unit financing type of questions. Bigger Pockets does have a commercial forum and it might be a good place to ask in there as well. Keep this one up here too but I think you will have more responses there. Just a thought. Thanks!