Florida real estate investors may find small-balance commercial properties a good investment in today’s economic climate. One example of a small-balance property would be a multi-family unit with five or more living areas. Four or less is considered residential, so perhaps you are already investing in multi-family units. Shop Commercial Mortgage can help you get established in small-balance commercial property investing.
One good reason to move to small-balance commercial properties is the fact that conventional lenders have tightened their lending criteria for residential properties. Transitioning to small-balance properties makes sense to avoid the cumbersome underwriting process for residential multi-family properties. Other properties that fall into the small-balance classification include:
"I just closed a commercial loan in St. Petersburg. A 16 unit apartment complex for $100,000 at 11.5% interest. It was a free and clear equity driven low documentation refi with no appraisal so it closed fast!"
Mikle / Broker