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Updated almost 5 years ago on . Most recent reply

User Stats

31
Posts
9
Votes
Gaurav Malhotra
  • Investor
  • Seattle
9
Votes |
31
Posts

Seeking 140K Private loan / Advice how to?

Gaurav Malhotra
  • Investor
  • Seattle
Posted

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)

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