Financing questions when using a partnership?

[Tom Nellman]

Hi BP,

I am just starting a new venture into the BRRRR strategy. I am going into it with a partner 50/50 split and we are looking to do 10-15 homes next year. We are going to buy each property thru a land trust using cash, using a land trust to keep our interests separate but still operate thru LLC's. My question is, how do we finance out of the houses with a partnership(especially when the houses are bought thru trusts)? These are commercial loans, but to be honest, I am not sure what all that means, balloon payments etc, drawbacks to look for? It seems like commercial loans are pretty common especially in the MF space, so I was curious if anyone could detail what the financing would look like when we go to refinance these SFR's. Also, since they are going to be all commercial loans is there still seasoning/delay period before we can refinance or can we refinance right away b/c they are commercial? Thanks for any input!

All the best,

Tom