(Posted in Financing Forum but noticed not a lot of traffic through there)
I’m simply looking for the pros and cons (mainly cons) in funding this deal. 4-family in good shape, reasonable updates, fully rented. Would it make sense to get a “hard money” loan of 60% LTV with the seller carrying back the remaining 40? Credit is fair/good so my exit would be, at the very least, refinance the “hard money” ASAP (less than a year hopefully). Lets say the property cashflows pretty good with a hard money of 12% and a seller at 10%
Is this something that can be done on a regular basis without getting yourself in to trouble?
Thanks for listening