Creative Real Estate Financing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated about 1 year ago, 12/13/2023

Bank Loan for a Down Payment?!
BP,
I have a deal in the works and the seller is willing to finance. However, due to my inexperience, he is requesting a down payment around 300k. I will also need another 200k for closing costs. It is an off market $8mil portfolio. He has agreed to interest only payments for 5 years which would allow for significant cashflow that would be banked to pay off lender asap. I would be able to pay back the loan within 3 years easy.
Could I get a bank to loan me the 500k? Is this something banks do?
Or am I best off finding a private lender? If I find a private lender, how could I offer the lender security in their investment?
Thanks in advance!