We own SFHs in AL and MS and a 4-plex in CA.
Q1: is it true that one can only get a commercial loan with at least a 5-unit building? The number of SFHs won’t matter.
Q2: we own everything free and clear.
Q3: would a hard money lender take a portfolio or would recording xx deeds of trust be insanely expensive? Just wondering if there might be a clever alternative. For example, as we have no intention to default, me might sign over the properties to a lender who in turn uses a good PM. There will be repairs but we have that covered with good properties and a high cash reserve.
Realtors - there will be excellent ones out there, no doubt. But when we called around to find one in a small town,we wouldn’t even get some call back with suggested prices for a listing.
Which makes us wonder whether to dump the properties at a huge loss or get a loan and let a pro handle the management?