All Forum Posts by: Eswar Reddy

I am considering purchasing a 6 unit multi family apartment building in Albemarle, NC - which is a small town about 45 mins away from Charlotte, NC. The town has a population of about 15,000. The property has an amazing cash flow and an excellent rental history so far. It's is also a little old so there is an opportunity to renovate and raise the rents. I have so far invested only in bigger cities and towns and have no experience running a property in a small town. My concern is the long term population trends and demand for multi family rental in a small town. Also, if I renovate the units, would the market support the raise in rents?

Thanks for the inputs Alan. I am buying the commercial property under an LLC from the get-go. I will check with the commercial lender then.

I am currently under contract for buying a commercial investment property and I'm already approved for a loan by the lender. The closing is set for the end of December.

I own a different residential investment property which was fully paid off an year ago. With the interest rates being so low right now and the possibility of the rates going up next year, I want to refinance this property before the end of the year. I reached out to a refi lender and I was asked to wait until I close on the commercial property. They mentioned that refinancing the residential property before closing on the commercial property could jeopardize the financing for the commercial property.

Is this true? Is there something I can do to refi the residential property before closing on the commercial property without putting the commercial financing at risk?