I currently own a few rental properties, mostly 2-3 families. I have another deal coming up soon, but i dont have my own cash for the down payment. However, i do have a person that can give me the down payment money.
My question is, how do i structure this deal?
The property is a a 3 Fam with 2/1 and one store front. So 4 units total.
The selling price is 595K, and since its an investment property for me, i would have to put 25% down. So i have a friend that would lend me the 150K down payment at 4% interest.
My question is how do i structure this deal with a lender, and how do i incorporate my friend in the deal to make this work?