How to stretch $150k

[Joe Gee]

Hello BP, 

I have done a couple of deals with a local PL who has about $150k to lend me on deals.  He wants to be on a 1st mortgage which is fine if I find a deal that is around this price or a little more ($175k max) if I put some skin in the game.  

My question is, how would you get more creative with this? Am I limited to only buying deals at this price range?  

The goal for me is to buy small-med size multi family properties but they are in higher price ranges $200k+ 

I would like to use his funds for down payments and/or rehab funds to buy these bigger deals.  But since he want's to be on a 1st, i'm not sure how to approach him with this.  

Any suggestions?