how do I structure a JV or find a Lender

[Shannon Trivett]

I have a verbal agreement to purchase mixed used building for 100K.  it will be a buy and hold.

ARV 200K +

Building currently houses 2 retail fronts and 3-4 apartments. Anticipated gross rent $3,000/month. One retail tenant is in place, a 1 bedroom and a 2 bedroom apartment are ready to occupy with some plumbing work.

The seller would like:

15K down he'll hold the rest for minimal payments at 4% and a balloon in 5 years or less.

I'm looking for 25-40K to cover closing cost and initial improvements to plumbing and heating.

I'm ok with the terms I just need more $$ - I have about $20K in the bank but did not anticipate this deal and have already signed to purchase our primary residence. This creates big issues as I'm at a low point with my capital and I can't interfere with my credit right now.

In addition to the equity in this building I have a SFH (4/1) home that is currently rented for $750/month. that I own free and clear. Fully rehabbed less then 1 year ago. Estimated value 75,000

I would be willing to encumber the SFH to get the operating capital to launch the new project.

Any idea how to present to investors?  Where to look?