All Forum Posts by: Jerry C.

Hi All, 

I am running up against the personal mortgage limit of (10) and have to go commercial if i want to continue .  My question(s) are:

If for example i pool 5 properties together into one loan, and decided to sell one unit, I would have to either (a) refi out of that loan and kick the property out or (b) sell all 5 properties in one deal?  

Additionally if i purchased more property i would like to do the reverse and add to the existing loan however from the feedback i have received from my local commercial lenders it seems that i would have to refi everything or apply for a new commercial loan. Any thoughts on this?

Is there a different approach that anyone is aware or has done? For example, the commercial loan would be against an entity. I was thinking can that entity for example be a Series LLC where each series is tied to 1 property and i would be able to add or subtract properties as needed? I am guessing that would mean separate loans for each or am i missing something in my thought process?

Any suggestions or examples of your personal experience  are greatly appreciated.