Posted by Natalie-VA on May 06, 2007 at 13:51:48:
Tracey,
If I’m understanding you correctly, you’re talking about 2 notes, not one. Only one of them can be in first position.
You might be able to get some suggestions on the best way to handle this on the financing or cashflow forums.
–Natalie
Structuring a Deal - Posted by Tracey
Posted by Tracey on May 02, 2007 at 18:55:28:
I am a beginning investor and I have what I believe to be a great deal however I am uncertain on how to put the deal together and make it work. My question is if I have a seller who is willing to finance the property with 20% down, and I bring in a private money lender to finance the down payment, how would the note be structured considering the fact that both seller & private money lender would want the first position on the note?