I’m in a situation where I have investors willing to leverage their funds for my down payment on a commercial project I am working on. The question is how would I structure a “soft” escrow leveraging those funds to act as my down payment.
This is to be used for several properties to be consolidated after which I will sell the assignment of all of them as a whole (I already have one interested developer). Any suggestions as to how I can use the same funds for each seller since the funds will never actually be used/released as the assignee will put up their money to close?
I know liquid would be easier but my hard money backer did just that… backed out!
Anyway, any suggestions on how to do this soft escrow would be greatly appreciated.
While I’m at it, any suggestions on where to find a new personal investor to put up liquid deposit $ for 90 days in exchange for doubling the investment if the deal closes? I looked on the hard money lender page but doubt a hard money lender would do my “investment” type deal versus a guaranteed 15% loan deal. I just don’t know if all the sellers I’m dealing with will accept soft funds.