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North Carolina Real Estate Q&A Discussion Forum

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Andrew Hove
  • Durham , NC
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Looking for a lender recommendation in Durham/Raleigh

Andrew Hove
  • Durham , NC
Posted Apr 10 2018, 04:19

Hello, 

I currently own a quadplex in downtown durham and am trying to find financing to pull cash out. It's proven a bit difficult. The property is technically two identical duplexes right next to each other on one tax parcel of land. Fannie/Freddie residential lenders won't touch it because they want to treat it as two houses, not one quadplex. 

So I either need a good portfolio lender that will do a 15 or 30 year home loan or a business lender. I've hit walls with my current contacts. 

The property cash flows well, all tenants are current, and I have 4 signed leases. 

Can anyone help me out? Thanks 

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