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Updated about 6 years ago, 11/26/2018
HML that will accept seller financing as down payment
Looking for advice on a hard money lender who will accept seller financing as a down payment.
I'm talking to a seller who is willing to finance around 40% of the purchase price of two properties, 6 unit and 4 unit. Each unit needs 5-6k in cosmetic rehab.
Does anyone have experience with a HML who has financed a deal like this? Ideally I'd like to 100% finance(seller financing + hard money) the purchase and rehab then refi to conventional using equity for that DP. I do have 70k on hand but I'd like to put in as little as possible
Will I be able to get a loan for both properties or will it have to be separate since one is commercial?
Any other 0 (or near to) down strategies are welcome as well