Moving from SFH to Apartments

[Dennis Perry]

Hey guys,

I'm not a newbie anymore! I have 3 investment properties and I am looking to expand in small apartment buildings. I have been doing my research I wanted to tap the community about non conventional financing ideas.

I am aware I can refinance the houses and use the money as a down payment on the building. However, what I want to know are there any lenders out there that will take one or more of my houses as collateral (I currently own all 3 properties outright) and give me a full loan to purchase an apartment building? Is that something that is done or am I making this up in my head?

Furthermore, if anyone that can name lenders that do this in MI and/or TX that would be awesome.

Thanks!