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Updated almost 5 years ago on . Most recent reply
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Seeking 140K Private loan / Advice how to?
Hello folks -
I have recently posted on a couple of other forums for a deal I am working on and trying everything to make sure it happens.
Scenario: CRE, fully rented, 9.4% cap, 1.1Mn, Greater Seattle Area, Bank loan 75% LTV approved
Issue: My business partner and I were comfortable with paying the 25% down payment but due to the crash of the stock market. The seller agreed to extend a seller note at 2nd lien position and then we agreed to do that as a personal note for me only (not my Partner)
He has backed out earlier today from offering any note due to some issues.
Question: Is there a source that i can tap into for 100K+ funding as a personal note? (no lien on property)