The toughest part has been to find a lender who will loan us money at a competitive rate since we don't have any credit and I find most commerical loans have a higher interest rate. 

I've actually found my commerical lender has a lot more flexibility in UW and can get creative with my DTI depending on how many projects I'm rocking at once.

Hey Y'all!I was just checking in with eveyone around the Louisville metro area (or anywhere for that matter) as to what they are seeing with current lending practices as it pertains to commercial + secondary mortgages...

Smaller Commerical banks might just say it’s a 1-3% prepayment penalty if you refi unless it’s within 6 months of your ballon.

@Ronak ShahThis response may raise some eyebrows but I had a conversation about this exact topic with my commerical banker on Friday.

Most likely have to go commerical, which means the interest rate will be much higher and terms shorter.

I've been passively looking at mixed use commerical property in the upper cape area where I also live.

Hi I did a 1031 exchange last year. we sold our boston condo and replaced it with a commerical 6 units in Pittsburgh, PA.  

Cons I see is that the owner wants someone else to fix up half the property, to improve/raise the value and then sell the other half at an inflated rate (worst-case to a different buyer) or, even if I was able to buy the second half, it would cut into profits for the value I already gave to it; Or that they'll just leave it vacant, making renters wary of living next to an "abandoned" apartment.It's also listed as a commerical property, so I know taxes/insurance would be higher than on a smaller multi-family.

One friend mentioned that he has been purchasing commerical properties for the last 5-10 years and was selling me on the benefits of it vs. residential.