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    2 Replies Latest reply on May 12, 2008 12:22 PM by dublincpa

    Many Investment Properties in 1 loan?

    Seck305 Newbie
      Hi there,

      Is there a such loan product, that I can consolidate mortgages on approximately 7 properties ($3MM in mortgages) under one business product that is secured by the real estate?

      Any thoughts on the pro's/con's of this? Does this product exist? What are your thoughts?
        • Re: Many Investment Properties in 1 loan?
          LUCKIEST Guide
          Many Investment Properties in 1 loan - - - Good question

          Sorry, I do not have the answer and yes I am sure you will get good answers to your question.

          If you Google " loan product ", there is info to review and many learn from.

          Good luck
          • Re: Many Investment Properties in 1 loan?
            dublincpa Scout
            I have a few clients who have this in Illinois. It is typically treated as a commercial loan and not given the slightly better terms available to residential real estate of 4 units and fewer. If they are considered commercial units anyway, this may not be a factor.

            The one big issue is dealing with how much the bank wants for a payoff at closing if you sell one or more, but not all of the properties. If possible, you might want this spelled out in the agreement.