Financing for 5 Duplexs

[Amanda Crawford]

Hi all!

My husband and I have a set of 5 duplexes under contract. We were planning to do 5 residential loans with 30 years at 3.2% interest, however since they sit on only two plots of land we are told we are unable to do residential. The property also cannot be subdivided in the future due to lot size requirements for a two-family property. So we are now facing a commercial loan at 20 years with 5% interest. This definitely lowers our cashflow below what we were looking and wipes out any chance of a BRRRR. We are curious to see if our Bigger Pockets contacts have any ideas or know of lenders that would be willing to work with us to get this package on a 30 year with a lower rate. Any help would be appreciated!