Lenders that allow seller carry
Hello Everyone,
I'm so glad that I have found this forum.Wanted to get some opinions and even network with some of you. I have a deal I'm working on two apartment complexes totaling 500 units. Current rents are 30 percent under market rents. Purchase price seller is asking is 106 million. NOI is 3.9 million. Seller is asking for 50 percent down payment and 5 percent interest only payment for 3 years. Wanted to know if any lenders would lend with a second position of 50 million plus? Or is it a better deal structure that would work to allow financing.