Updated about 9 years ago on . Most recent reply
5 duplex package is commercial loan the only way?
5 duplex package for 500k. the seller will only sell them together. i don't want to get commercial loan. besides private money is there any other way to finance this? i have 100k cash and can qualify conventional loans for 500k.
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#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
The assumptions above, and mine, are that these are in fact 5 separately deeded duplexes, each on their own parcel ID no. The total conventional loan limit is 10 mortgaged properties total, not just 10 conventional loans.. Note that no matter what type of loan you get, whether it be 1 or 5 different commercial/conventional/private mortgages, the "count" is the same toward your conventional loans limit.....and that would be "5 mortgaged properties" for this deal.