Long Term Financing for Rentals
2 Replies
Robert Ferrell
from Yuba City, California
posted about 3 years ago
Hey BP!
My question is about funding buy and holds. After you have gone the conventional route of either 4 or 10 bank mortgages, what is the best way to refi out of a private money loan? I could be wrong, but I doubt many private lenders are looking to tie up their funds in a 30yr note. Let me know your suggestions. Thanks!
Bob Green
Lender from Mokena, IL
replied about 3 years ago
Robert,
There are several national portfolio lenders who provide 30 year fixed mortgage. The rates are not as aggressive as conventional lending but there are several pros. I can point you in the right direction. Please PM me.
Robert Ferrell
from Yuba City, California
replied about 3 years ago
@Bob Green Thanks for the reply, Bob. At this point, I am currently in the planning stage of my investing career. I hope to get started within the year. Like most other newbies, I too became stuck after the conventional loans run out. Portfolio lending is an excellent idea though! I will definitely PM you to find out more.