Negotiation tactics for financing 2 SFH with 2 loans?

Question

My wife and I put in a bid that was countered. It is for 2 properties, but our lender requires us to obtain 2 loans. I'm assuming this means we will have to pay 2x closing costs. Can anyone offer negotiation tactics we might consider using for either the lenders fees or seller? If we get these properties we will finally begin our investment journey! Thanks so much in advance. Cheers!

Bobby Balow · Answer

Thanks so much for the suggestions! Putting in a  bid for two properties at once is very new territory for us and something not really discussed at great length in the books I've read. So I have no idea of what leverage I have in this circumstance with my lender or seller. Appreciate both your insight.

Rick Pozos · Answer

I think it would be pretty tough to find someone to do a blanket loan for 2 properties.

2 Properties, 2 closings...whats the problem?? You need 2 appraisals, 2 inspections, 2 of everything. If 2 closings is going to break the deal, it is not even close to a deal. Pay the fees and get started. Quit looking for a reason to NOT get started.

Ben Sears · Answer

My advice would be to find a lender who will wrap both into portfolio loan. No way I would be paying for two closings. Check with your local community banks to see what they can offer you. I wouldn't go any further in the negotiation until you shop around.