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Updated about 9 years ago,

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3,280
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Michaela G.
  • Investor
  • Atlanta, GA
3,064
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3,280
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How is seasoning seen with assembly, for commercial loan?

Michaela G.
  • Investor
  • Atlanta, GA
Posted

Ok, so I own 4 properties, each holding 1 duplex. This is part of a 1-acre tract, that holds a total of 8 duplexes. 

I now have a partner, that's been working on picking up the other 4 one at a time, so, that we control the whole block. It's fenced on 3 sides. 

We're going to add a gate and make this a special community, separate from the rest of the neighborhood.

My question is: I bought with cash, my partner is buying with cash. We're hoping to renovate to a higher standard and then get a commercial loan, so, that both of us get our initial cash investments out.

How would a bank/mortgage company see the seasoning on this, when some of the properties were bought 5 years ago and some only now. If we combine these separate lots  back into one big property, is there a way to do it, so that it's seen as 5-year seasoning? Or will they look at it only as when the last piece is bought?

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