[hardrock]

I have a proven investor who has contracts on a property in Georgia as well as one in California.

The Georgia property is a $2.8 million purchase with the seller to carry back $1.5 million. There are two buildings on the property. One is an empty warehouse and one is an operating restaurant.

The California property is a $15 million purchase. The seller needs $8 million with the seller's carrying back of 7 million.

He is looking for and wants to develop a long-term relationship with a true asset-based loan lender who will do all of his deals with the buildings being the collateral. He wants first position loans to 60% of the appraisal and which allows the seller to carry a second position behind the first. Not too much paperwork. He said he would also look at a bridge loan of one to three years, if possible.

He has a high number of properties ready to go after these two.

Any lenders interested?

[abfunders]

There aren't too many lenders on this board that will respond. However, you'll have a bunch of co-brokers like myself who would be happy to assist. Most hard money lenders won't care too much about the seller holdback either. Let me know if I can be of assistance.

[Olderguy]

Borrower has no capital contribution....he has a contract that any guy on the street could have. I have a lender who can allow any amount of seller contribution, but not carry back.... I wouldn't consider this with no skin in the game by the borrower.

[omegafund]

So your borrower wants a lender to carry 100% of the risk no owner cash contribution. You need an investor not a lender

[Olderguy]

So your borrower wants a lender to carry 100% of the risk no owner cash contribution. You need an investor not a lender

No, he needs a therapist.