Hey guys.  I started doing real estate in March 2019.  I just purchased my 12th property.  I am just starting to look into options for refinancing them to get my cash back out.  Should I consider doing a portfolio loan (4% or less, minimum 5 properties, 500k loan and 650 credit score), or should I try to refi them individually?  What is the benefit to each method?  I have quite a bit of equity across my properties and I want to purchase a business so I need to free up some cash.  I meet all of the criteria for the portfolio loan no problem, but I was unsure about tying all of them together.  Thanks!

Depends on which one offers the better rate and if you are in a buy and hold position or a short term investment.

If you bundle them all together into a single note then make sure you have an option in the note to sell off individual properties from the bundle and roll a portion of the proceeds of the sale to pay of an equivalent portion of the note's principal. Otherwise you may be stuck having to sell all the units at once or refi the entire bundle if you need to just sell off a portion of the assets.