Help with scenario, 17 mortgaged properties

Help with scenario, 17 mortgaged properties

Real Estate Coach · Scottsdale, AZ · Member since 2008 · 65 posts · 1 vote

I have a scenario with an investor who has 17 mortgaged properties. He needs to refi and no conventional lender will allow for this. Does anyone know any private equity lenders that might look at this. The total ltv is around 55%, he has good credit. Let me know if you know of anyone. Thanks for your help.

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  • Real Estate Coach · Scottsdale, AZ · Member since 2008 · 65 posts · 1 vote
    18y

    All the properties are in Arizona....

  • Wentzville/St. Louis, MO · Member since 2008 · 359 posts · 1 vote
    18y

    Commercial blanket loan.

  • Residential Lender · Los Angeles, CA · Member since 2008 · 57 posts · 0 votes
    18y

    your going to have a problem with PMI

  • Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
    18y

    Why would there be PMI with a 55% LTV?

  • Real Estate Investor · Delaware County, PA · Member since 2008 · 5 posts · 1 vote
    18y

    Hey Dave,

    Wachovia will do that. No limit to properites owned. They will do that FD only.

  • Member since 2008 · 689 posts · 23 votes
    18y

    Please keep us informed on whether you land a lender. Thanks

  • Real Estate Consultant · Member since 2008 · 792 posts · 30 votes
    18y

    Where I live, that would be best done by a local bank.

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    18y

    I think wachovia is no longer an option.....

  • Commercial Lender · San Diego, CA · Member since 2008 · 14 posts · 0 votes
    18y

    Call me I have a lender in CA that will do this but have some lenders I would like to call that will lend in AZ.

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