Need Help Structuring A Deal ...ASAP

Hi, I found this commerical property (6 family)and the onwer is willing to carryingback 12% of the pruchase price, i'm trying to go in this with no money down ..How can I construct my contract , so the bank can finance me the rest ..? Need Help ASAP

Comments(5)

  • commercialking12th January, 2005

    Well more information would be helpful. What's the purchase price? What's the annual NOI? What do you think you can get the property to appraise for?

  • Mayaro212th January, 2005

    Price : 425,000
    FMV: 470,000
    NOI:43,293

    The seller is holding paper 50,000 at 8% for 3yrs
    So what I'm asking is how can I do the contract so the bank can finance me the rest ...?

  • commercialking18th January, 2005

    Ok, so you've got the seller carrying back 10% most commercial lenders are going to want to see at least 20% behind them

    You could jack up the price another 10% get the seller to add it into his note make some kind of deal where you get to buy the paper for 50 cents on the dollar.

    Probably other things. Its going to depend a lot on who your lender is and what they will or won't allow.

  • Mayaro219th January, 2005

    Thanks ..alot

  • Mayaro219th January, 2005

    Thanks ..alot

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