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Updated almost 5 years ago,
Need commercial lending advice!!
Here is my situation. I invest in rental homes mostly. I have exhausted my 10 FannieMae/FreddieMac loans at this point with both single family rentals and a duplex. I am a physician with excellent personal credit, so qualifying for loans up to this point hasn't been a problem. We have a couple LLC's set up that we use for our rental properties. We are considering partnering with a local (Houston, Texas) builder to construct a duplex now, and then afterwards a triplex. The builder/developer currently owns the land. What I need is a lender to provide construction loan for the construction of the duplex, and then upon completion of the duplex, to roll it into a mortgage. Then I will want to repeat for the triplex. I have reached out to multiple lenders that I know and keep getting the response that they don't handle those types of loans. I think I must be looking in the wrong places.
Can I get some advice?
Thanks!
Can I get some advice?
Thanks!