lending options for multiple properties in one loan?
I am looking to cash-out from my three rental properties, all free and clear (Tampa, FL). I am looking to do one loan for all three properties. Does portfolio loan work for this? if so any prefer lenders?
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@Bhargav Hirapara You have a few options here. I personally like the route of a credit union assuming they were willing to balance sheet the loan as a blanket. Some play ball and others only want to use conventional options so definitely worth calling around. The other options is using specialized lenders. you can do a blanket or individual loans and it gets treated as a commercial loan so typically non-recourse, borrower is an LLC and based of DSCR/cash flow. These loans do cost a bit more but close quicker as well.