I own 4 units in the mid-west (live in California) and have successfully rented out.
I have 2 friends who want to go in with me on acquiring a multi (6-10 unit) property.
Question 1: What type of loan should we go for - I think only commercial loans are available, correct? Question 2: How do we get started - should we set up an LLC and then "invest" in that LLC? Question 3: What are the best lenders for this - Big banks? Any suggestions?
All 3 of us have plenty to cover large down payment and will get approved for the loan - we just want to know how to go about a commercial loan.
I am familiar with FHA's and Regular loans, but not for something over 4 units. Thank you!!
Submitted February 08, 2017 at 01:39AM by Random_User_Name22 http://ift.tt/2k1sf4l
