We need help with our first property purchase please!
We are currently looking a rental property that has 5.54 acres and it has a 3 bedroom house with double garage ($1000 rent), a duplex with 2 bedrooms and 1 bathroom each unit ( $600 each unit ), and a house with 1 bedroom and 1 bathroom ( $750 rent). The asking price is $275,000 and its located in Monroe NC. The property needs some updating probably around $10,000. We are trying to decide if getting a loan from our current bank would be a good choice or if we should use another type of lender. We will probably put down 20%. We do have a corporation so we are not sure if the loan should be a personal loan or if the loan should be under the corporation. We need your help :)
Thank you