Constructing A First Deal
I am new to the investors group and wanted to see if this deal is realistic or are there better ways to structure it. Here it goes:
An lakefront investment is selling $500K. I would like to ask the owner to finance 20% (100K) that would go towards a down payment to the lender...via using a lawyer to ensure proper handling takes place. The loan of 500K loan would go towards the seller after the transaction is complete. Everyone is happy...I hope.
Does this sound realistic at all??? or is there a better way in constructing the deal? This up and coming investor would appreciate constructive criticism. Thanks!!!
I am not quite sure about the wording of your post. But essentially, if you have a decent credit score (650 and up) you should have no problem finding a commercial lender to help you with 80% financing. Send me e-mail at fokal728athotmaildotCom Maybe I can help you with the financing.
Ferris[ Edited by fokal728 on Date 08/06/2005 ]