Updated over 4 years ago on . Most recent reply
Multiple property financing
Today I ran into a long time investor looking to retire from land-lording. (OFF MARKET properties)
He & his wife are wanting to travel the world and such. He has 15 properties and we viewed 7 today which. He will be putting new roofs, adding a new AC unit to one before me buying them & doing minor remodeling on the two he's ready to move now. I think his price is fair but his rents are slightly low. (Current tenants have occupied property 10 years). Both properties will meet the 1% rule but barely. I Said all that to say how do I approach my lenders/banks to possibly combine the two properties into one loan? What's my best approach? My credit is fine but I'm struggling with the best approach to handle this. Btw I have two properties in which I have 100% equity in, one single family & one commercial, but both owned in my LLC