Putting Multiple Properties Under One Note
I own several properties that I have acquired over the past several Years. I have a pretty good amount of equity in some of them and am thinking of pulling some of the equity out and either paying off a property or possibly purchasing another property. My idea is to combine two of the properties into a single note. I have already spoken to a couple lenders about this and they do provide this type of financing. I am aware that this could complicate selling the properties singly as the note for both would need to be cleared to release the single property. The refinancing costs are reduced a little bit to Refi this way and terms of the notes are the same for one or two properties. I would try to keep somewhere around 30-35% equity, also keep in mind I am nearing retirement. I am looking for Pro's, Con's, and maybe other ideas??