Multiple properties, single parcel - mortgage possible?

10 Replies


Looking at a single parcel with multiple properties on it.  Numbers are good.

Does anyone have advice on a conventional mortgage lender who would consider lending on this in NC?

Is this even lendable (if that's a word), or would I need to consider commercial / creative options?

Anyone done this before and can bestow their advice?


Although it's not a 'conventional' property, you should be able to secure a mortgage with 20-30% down. Always think of your exit plan(s) though. Being an unconventional property type, it will be less likely to sell in the open market, in comparison to an average/normal property for the area.

On a side note, could you subdivide into 2 properties? Check out the town's zoning regulations and talk to the Director of P&Z to see if it's possible. If so, in your market, could the 2 parcels be valued at higher than the price you would buy the property for, less any surveying/subdividing/permitting costs?

@Rob Brautigam thanks for the reply.

Good to hear I should be able to secure conventional financing - I had read that this might be tricky.

As far as exit strategy, that's exactly what I had in mind. Splitting the plot.  Will check into the zoning regs and go from there. 

Although I plan to keep as a buy n hold for now anyway, but as always, have an exit plan.

Thanks for the advice.

Hey Nigel.  I'm a local investor and Realtor in Wilmington NC.  Did you ever find funding for that deal?  I've talked with several local small banks and Credit unions in town.  Corning Credit Union would be a good fit I think for that deal.  Feel fee to PM if you want.