Commercial Loan?
First time poster here and seeking advice for something that I cant find much information on.
I am looking into getting my second investment property (first being a duplex). I buy and hold to collect rent. The property I am looking at now is two parcels.
One parcel has a single house on it. The second, however, has a house and two duplexes. After speaking with my local loan officer, he says that they dont handle any properties with 4 units or more. Then he kept saying that anything bigger than a quadplex needs a commercial loan.
I tried to explain that these are separate buildings but Im not quite sure he understood.
So, do I need a commercial type loan for this property? Also, at risk of being booed off stage, are there any recommended places to look for commercial loans as I have never dealt with anything like that before.
Thank you for your time.
Frostwire