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Financing for multiple duplexes

565 Views | 0 Replies | Last: 6 yr ago by SteveBott
WestTXag18
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I'm looking into a package deal that includes more than one duplex. How would be the best way to finance a transaction like this.

Lets say for ease of the example it is 5 duplexes (10 units) for $400,000 ($80,000 each). But, if sold individually they would be worth more like $100,000 a piece.

I am assuming I would have to get commercial financing since it is over 4 units. But, then could I sell one or 2 off individually or would they be stuck as a package?

Or is there a way I could get individual residential loans on each one? If so, is there an easier/cheaper way to do this rather than having 5 different appraisals/closing costs/etc.

Thanks for any help!
SteveBott
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AG
Residential will get better rates but closing costs would be higher. I'd go local bank and put them in an LLC
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