I am looking for a portfolio lender for a portfolio of 4 SFHs in Baltimore. I'd like some recommendations on some local banks / credit unions who I can approach about lending 70% LTV on the pool. Also, on these kinds of loans, will lenders require that I season the rental for a period of time before I can take out the loan? Any guidance on this would be most appreciated.
I had a deal like this in the past in Florida where took 65 or 70% cash out of 4 free and clear homes under 1 blanket loan. This sounds like a similar situation. What is the value of each property and how is owed?
What are the properties valued at
There are 4 properties that will be owned outright. Value of the properties is 40k each (160k total) looking to pull out 110k.
@Sebastian E. Any luck finding a lender? I'm analyzing a similar deal in Milwaukee.