A local rental company is liquidating, and I was curious what the best way to purchase multiple properties at the same time would be. In the past I have always purchased properties on individual mortgages, or multiple on land-contract. Is it possible to get one loan to cover multiple properties for purchase? For refinance? Would this have to be a commercial lender? Thanks for any help.
Let's start with the first question first. It is POSSIBLE to get one loan to cover multiple properties for purchase. I honestly believe that there is a lender for everything these days. Now, as to whether or not it would have to be a commercial loan, that depends on the property. How many units is each property? If it is more than 4 units it is considered commercial and will have to be sent to a commercial lender. If your looking for a broker to help you out don't hesitate to email me. I do a ton of constructions loans every month. Send me an email and if I'm licensed in your state I will be glad to help, if I'm not licensed in your state than maybe I can recommend someone who is licensed in that state. Good Luck!
Mortgages are for individual properties unless it is an apartment building or warehouse.