I am looking for Banks or Lenders that will allow the owner to carry back the deposit, i.e finance 70% and owner carry 30%, so far they want the buyer to come in with10% minumum, there has to be someone out there that will do this. I have read it in deals before, Just need help finding those kind of Lenders. Please if anyone knows, please let me know
Thanks
Your talking about 100% financing, I assume your wanting to purchase a MHP? The probability of default on a 100% deal is very great, thats why lenders are not willing to do these deals. The number one killer in any business is under capitalization! 80% of all new business fail within the first 5 years because of not enough money set aside for a “Rainy Day”.
Save enough money for your rainy days and you will be able to weather the storm.