Commercial Lending anyone

Financing, Hard Money Lenders, Private Money
1

I have 4 duplexes in Bossier City La. I have completely renovated one duplex at a cost of $50K. The appraisal came in low at only $50K 4 months ago. I was not too worried about that because I purchased these units at $11,500 per duplex. They all need rehabbing of course. After renovation, I took out $37,500 HELOC on the unit. I have two pending contracts section 8 for $550 per side. That will net me somewhere around 19% rent-to value return on my investment I believe. My question is where can I get a commercial loan to wrap these units under one loan under my LLC?

Bonchie

2

You’re talking about a blanket loan. Typically portfolio lenders (small banks or credit unions) local to the properties will consider them. Here’s a resource: creditunionaccess.com

3

The site given above is a resourceful one. Is there any range or amount of real estate investment that lender considers necessary? Thank you.