Purchasing 6 Duplexes on one plot of land - Financing options?

Question

I'm looking at purchasing a package of 6 duplexes, all on one plot of land. What type of financing could I obtain for this purchase?

Jeff B. · Answer

Commercial.  Look for a local business bank and not a National Big Box.

Linda Coughlin · Answer

ARE THEY RENTED, IF SO I CAN DO A LOAN BASED ON RENTAL INCOME

YES WE DO TEXAS

LINDAC0413  OVER GMAIL

LINDA

Jared Rine · Answer

@Zane Gifford...what are you considering small?  Price points and such?

Shahriar Khan · Answer

@Cody Cook if purchase price is almost a million .. Freddie or Fannie would be BEST loan structure. Least amount of rate and most amount of amortization. They will trump any commercial bank lender.

On that note, all commercial loan rates are negotiable and dont forget to ask for 2/3 years of interest only if you needed funds for rehab etc.

Keep us posted.

Zane Gifford · Answer

@Andrew Postell sure do appreciate the direction.

Andrew Postell · Answer

@Zane Gifford for commercial loans you can try either the commercial/apartment forum or maybe just post in the Texas forum.  Or perhaps even both.

Zane Gifford · Answer

@Andrew Postell do you happen know of any good lending contacts in houston for lending on small apartment complexes? We’re looking for either a mortgage broker to help us and or a lender to help with financing a couple of upcoming purchases.

Andrew Postell · Answer

Thanks @Cody Cook   John Sperling with Visio Lending is in Austin and this sounds like a property he could lend on.

Cody Cook · Answer

@Andrew Postell 840k

Andrew Postell · Answer

@Cody Cook what's the asking price for this lot?

Purchasing 6 Duplexes on one plot of land - Financing options?

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