Condo an existing building: best practices for lending success

[Peter Vanko]

BP Friends,

From a LENDING perspective, how are you managing condo conversions where a single mortgage is already in place, and pay as little in transactional fees as possible?

1. Create a new holding LLC and sell aggregate units to it
2. Refi, buy out the old mortgage, and transfer all debt to one of the units
3. Or......

Thanks,

Peter

Boston, Investor, Developer, Architect