Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 11 years ago,

User Stats

1
Posts
0
Votes
D Frost
  • Waco, TX
0
Votes |
1
Posts

Commercial Loan?

D Frost
  • Waco, TX
Posted

First time poster here and seeking advice for something that I cant find much information on.

I am looking into getting my second investment property (first being a duplex). I buy and hold to collect rent. The property I am looking at now is two parcels.

One parcel has a single house on it. The second, however, has a house and two duplexes. After speaking with my local loan officer, he says that they dont handle any properties with 4 units or more. Then he kept saying that anything bigger than a quadplex needs a commercial loan.

I tried to explain that these are separate buildings but Im not quite sure he understood.

So, do I need a commercial type loan for this property? Also, at risk of being booed off stage, are there any recommended places to look for commercial loans as I have never dealt with anything like that before.

Thank you for your time.
Frostwire

Loading replies...