Lenders willing to work with seller 2nd's?

[Phillip Bernier]

I'm currently working on scaling up quickly through purchasing large SFR portfolios and/or apartments, and I've spoken to a few sellers willing to carry back a seller 2nd note of 20-30% (i.e. the down payment).

I'm looking for a lender that will move forward in financing the remaining 70-80%, in 1st position, alongside a seller 2nd of 20-30%, totaling 100% CLTV. Terms for the seller 2nd have generally been 5%, interest only, 5 years.

I'm only considering properties under this scenario that cashflow well immediately, in addition to having a strong value-add element. The goal is immediate cashflow that will quickly increase as we fix-up and/or lease up the properties, which ultimately will lead to a higher property value and a cash-out refi within the 5-year term.

Do you happen to know of any good portfolio, bridge, and/or DSCR lenders, private or otherwise, that may be willing to work with such a scenario?

Looking forward to chatting soon. Hope you've had a blessed day!