Info For Commercial Lending

[Dominique Coffin]

Hello All! First post on here!

My wife and I recently invested in our first multi family property last year and are looking for our next one. We are looking at a 5 unit complex which will obviously require commercial lending. I’m going to talk to some different lenders this week but was looking to get some advice first. I know everything will depend on different factors (income/debt, experience, credit, etc.) but I am wondering what is the best type of commercial loan to go with? What is a good interest rate right now? Any other advice you have?

Also a side note is this property is a duplex and a triplex on the same lot. I am debating if I get it to sub divide and then refinance with residential loans. I would then have two properties to pay taxes and I’m sure some other things I’m not thinking of, but any advice on this would be appreciated as well.

Thanks for the time BP community!