Lenders for LOC or 2nd Position in Creative Finance

[Rob Allen]

Hi all,

I'm curious if anyone in Texas has had success with financing the down payments and/or closing costs of creative finance transactions like seller finance or "subject to", where the lender (owner/bank) would maintain first position in a non-owner occupied investment property. The goal would be 100% leverage by having a medium-term loan (~7 years) underneath the primary mortgage to allow me to scale more quickly. I've talked to lenders who offer short term lines of credit (LOC) or second position for primary occupied only. I have solid cash reserves and existing rental properties for collateral.

Thanks and happy new year.