Hard money lending question

[Seth Mceleney]

Hey Bigger Pockets members,

I’m in the process of purchasing a 48 unit self storage facility. The seller is willing to do seller financing with 75 percent loan to value. That being said, I will need 120k for my down payment. Does anybody know of hard money lenders that would fund a down payment for a short period of time (6months)? 

[Account Closed]

@Seth Mceleney I guess you are looking for hard money lender to finance the $120k (25%), right? This would be extremely difficult for hard money lenders as hard money lenders are asset based and they need borrower to have equity injection. In addition, they need to be in first position lien, not behind the seller financing. Your case would be perfect for private money lender. They fund based on relationship with the borrower. If they trust the borrower and know it's a good deal, they will fund. I don't know any private money lenders, just give you a direction.