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Updated about 1 year ago on . Most recent reply
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Looking for Principal to use their Net Worth to acquire more favorable lending terms
Hello, community.
I am looking for a partner, that can show net worth to the lender, and for that I will share in the profits of the deal.
I need to qualify for Conventional Fennie/Fredie, and it requires that the Net Worth of the principals would be the same as the Loan Amount. I need to show around 15-20 mln$.
Just to reiterate, you will not be putting up the money on the loan. The loan would be completely covered by Conventional Financing (Fennie/Freddie), which is unsecured.
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I might add more information to your post for interested potential partners. What market are you focused on? How many deals have you completed? What is the experience of your team? Do you have a third-party property management company in this market, or do you self-manage? Do you focus on light or heavy value-add deals?