Dec 13
can I use owner finance money ***? down payment for a commercial loan?
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college_athletic_sport ***?ked:
The owner is ***?king for 3.8 million for the apartment complex. He is willing to owner finance up to 1 million. It is a 131 unit complex.
6 Responses to “can I use owner finance money ***? down payment for a commercial loan?”
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December 14th, 2009 at 3:46 am
No. At best, he is willing to be a 2nd lien holder.
Which wont apply if you cant finance it on your own.
December 16th, 2009 at 12:30 am
No for ***?veral reasons. First you wouldn’t have any financial risk in the investment and ***?cond the owner loan would likely be a 2nd mortgage on the property.
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