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Updated about 4 years ago,

Tim DeFor's profile image
Tim DeFor's profile image
Tim DeFor
  • Rental Property Investor
  • from Norfolk, NE
  • Member since Oct 2, 2020
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User Stats

38
Posts
40
Votes
Tim DeFor's profile image
Tim DeFor's profile image
Tim DeFor
  • Rental Property Investor
  • from Norfolk, NE
  • Member since Oct 2, 2020
Connect
Tim DeFor
  • Rental Property Investor
  • Norfolk, NE
40
Votes |
38
Posts
Innovative Strategies

Seller Finance the Downpayment?

Tim DeFor
  • Rental Property Investor
  • Norfolk, NE
Posted

I met with the more experience investor yesterday over coffee. I asked him about a potential 8 unit deal. We talked about seller financing and he suggested that I ask the seller to carry a note for the down payment and a small reserve. Then go to a local bank for a commercial 75% LTR loan. The seller would have a 2nd behind the bank. Have any of you done this? Are banks open to it?

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