Updated almost 5 years ago on . Most recent reply
Refinancing in Detroit
I am looking to cash out on 3 SFH in Detroit area. I recently purchased them cash and plan on holding for rental income. It seems like some lenders do not lend in Detroit market. Another hurdle is that each SFR is just below 50K.
My strategy is to reinvest in more rentals in Detroit. Can someone suggest perhaps a local bank that would do a portfolio loan on all three homes and would refi further additions to the portfolio? tku