Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago,

User Stats

5
Posts
3
Votes
Mollie Radden
  • Rental Property Investor
  • Gatlinburg, TN
3
Votes |
5
Posts

Best advice on getting larger loan amounts i.e. $1.5 mil

Mollie Radden
  • Rental Property Investor
  • Gatlinburg, TN
Posted

Hi there! Huge BP fan here 👋🏻So I’ve creatively financed a few smaller projects and have gotten pretty good at it. But now I’m looking at acquiring my dream investment, a vacation rental compound in the most perfect place in the world—Key West. I want to move there and run the 5 room rental but I’m not sure how to get such a large loan. 
The property is $4.9 mil. The seller is asking for a 30% down payment and he will finance me the rest. So I need $1.5 mil to put down. The place will probably net between $500k-$800k per year after I get it decorated, marketed, and ran the way I’d like. 
What would be the best way to get this financed? A large bank? A private investor? Would I offer them 30% of the profits in return for their 30% down? I know if there’s a will, there’s a way. I welcome any and all advice. Thanks in advance!  

Loading replies...