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Creative Real Estate Financing

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Bill F.
  • Investor
  • Boston, MA
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Single Loan on Multiple Properties

Bill F.
  • Investor
  • Boston, MA
Posted Oct 13 2017, 07:26

I'm looking for BP's ideas and thoughts about the pros/cons of financing multiple properties under one commercial loan. 

I hold one investment property in an LLC and I focus on sub $100k town homes so up until this point I have been able to purchase for cash. I have an opportunity to buy a few more units via short sale using either my own funds and/or hard money. I have always planned on getting a loan on the properties to increase return and free up capital and would rather get one loan as opposed to multiple. I have reached to some banker and they've told me to call them when I have the properties.

For the bankers out there: how common is it to make these loans and what requirements do you usually have? Is it a min loan amount or min property number?  Also, how is the sale of one property handled? 

For the borrowers: would you recommend doing a loan this way? Why or why not? If so, what do you wish you knew/did differently? 

Any ideas or thoughts are appreciated!

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