Re: Down Payment


I presume you are trying to do a ‘no money’ down scenario, correct? Couple thoughts:

  • What is the amount of the wrap that the owner is providing? $20k does not appear to be much but this may be a small park - you can fund that via private lender, credit card, take on a money partner for a portion of the deal.

  • Have you talked to the seller about this? Why do they need the $20k? Is there a way to give them some incentive to take on the additional such as higher sales price or maybe some additional profit at the end when you sell or refinance?

  • With that said, does this deal make enough sense to be highly leveraged?

PS: My 2 cents is that if I were a seller and were doing some creative financing I would want the buyer to have skin in the game. Last thing I want is someone with no skin in the game to come in and potentially destroy the place and walk away.