I’ve been trying really hard to find smaller banks in the midwest/PA/OH areas that would do the financing of parks with a subordinate. Say for example, they finance 75/80% and then the seller comes up with 10%, and the buyer with the rest, or some variation of that if we change %'s a bit. Basically a way to lower your down payment from the traditional 25%.
I’ve heard success stories of other operators doing these, but am yet to find a single bank that allows it. Maybe it’s the current climate in the country or maybe I’m presenting to the banks in the wrong way. I’ve tried knocking on a ton of doors and no success so far.
Would love any recommendations to banks that work with these or feedback if in maybe I’m going the wrong way about it. Thank you for your time.