Can you purchase two properties under the same loan?

[Jordan L.]

I was just curious, I am a newbie in real estate. So all knowledge you have,please share. If I am interested in two properties, can I get them under the same loan? Or do I have to get two different mortgages. Is this even possible. Thank you in advance for your answers!

[Michael Wagner]

Ii agree with everything put forth by both gentleman above but wanted to chime in. I have a blanket mortgage on three rental properties that we have. We purchased all three with private money and then rehabbed them and used the blanket mortgage as our more permanent financing. Doing so allowed us to avoid having to pay to close 3 separate loans. We were able to get 20 year amortization with a balloon in 10. We used a local community bank and they hold the mortgage as a portfolio loan. One important consideration is your exit strategy. Getting the bank to "release" one property in the event that you sell one but not the other(s) can be costly/cumbersome so just be aware of that going in. Good Luck!