I'm looking at two separate deals in which multiple buildings (w/ multiple TMS numbers) would be sold under one purchase price. One deal is a quadruplex and a duplex, the other is two quadruplexes and a duplex. I've been talking w/ my conventional lender and he said I would have to buy each building individually, which means 5 closing costs instead of 2. Should I go this route or would this be more of a commercial loan situation? I've never done a commercial loan, so I'm not really sure what I'd be getting into there.
I'd also be bringing in a co-borrower (LLC partners) into the deal if that makes a difference.
@Andrew Merritt There are so many factors which you consider which route would be good for you, commercial or conventional loan. Did you get quote from both lenders? if yes compare with your current lender see which route will benefit. Your MLO should be able to give you right advise.