Different lending options for seller financing

[Eriq Blanchard]

I have been negotiating a seller finance deal with an owner of a storage facility. He is willing to seller finance for 5 years, but it looking for around a 100k down payment. We have about half of that cost. Other that private investors, I would like to know if there are any other loan options out there available that can help us lock in the deal. This is my first larger deal of this sort, so I want to make sure I’m not in over my head! 

Thanks, 

Eriq Blanchard

[Marci Mayes]

It sounds like you have $50K of the $100K needed for the seller to owner finance the rest. Suggestions for the remaining $50K include: private lender, HELOC on personal residence, personal loan, or 401K loan. Make sure you still have adequate reserves after closing to cover expenses that are sure to come up (repairs, maintenance, vacancies, etc.). Good luck!