Looking for private lender or advise to finding funding

[Chris Crotty]

  I have a deal that I feel is promising for an acquisition. It is a TurnKey mixed use building with 1 commercial unit with USPS as the tenant since 2008, and 3 apartments filled with long term tenants. It is in a small town with few options for rentals available. The property brings in 5k a month, has 1k a month in expenses. Usps handles snow removal and outdoor keep up. The seller is willing to finance 50% of the cost and defer payments for 5 years. I need to come up with the 50% remaining to put down on it. I may be able to negotiate things differently. I'm new to this and I am still building my network. I am able to find funding for flips, but for an acquisition like this I don't have any options. I feel like this is a solid deal and there is enough income from the property to pay for financing as well as leave me with a substantial cash flow. I need to find an asset based lender that is willing to base financing on the income of the property. Any ideas, direction, or help would be appreciated. 

[Tom S.]

@Chris Crotty  Congrats on finding a good potential deal!

I have a 5 unit that I bought in a similar situation as yours, with some % done as seller financing.  I reached out to a local bank that knew the property, and asked for the commercial lending department.  They were able to offer a 1st position loan based off the property and income, and the seller was allowed to offer financing, but in a 2nd position.  

So check with your local banks would be a good start IMO.

Good luck!

[Brandon Croucier]

I believe I may have a solution to your problem if you would like to connect, we could dive into this deal a bit deeper.

[Jacob Sherman]

What is the purchase price ? Wouldn't be able to do a seller carry though