Financing on 11 units

[Daniel L.]

Hi all. I am currently in contract to purchase 11 condo units of a 40 unit complex all from the same seller. Initially these will be paid for cash in my name, with the idea of refinancing soon after closing under my name or potentially under an LLC

The reason for purchasing cash is to get the deal done swiftly. 

1) Should I be looking to get 11 separate mortgages on the properties or would lenders look at the bulk deal and lend on that based on cash flows? 2) Would this make a difference if held under my name or under an LLC? 3) what sort of LTV could I expect

Very much appreciated  

[Andrew Johnson]

Daniel LaRocca Shop around to different lenders, some won't care about the LLC (because you'll sign a full recourse loan) and others will. Don't shy away from community banks as well as the standard lenders. Terms, fees, amortization schedules, etc. can all differ.