Go to Portfolio Lender

[De Chappell]

Hey BP -

Does anyone have a preferred Portfolio Lender that they would recommend? I'm looking to purchase a Rental Portfolio from someone who is retiring from the business. 

[Mitch Messer]

Hey @De Chappell, I have two thoughts for you:

1. In addition to traditional lenders, don't forget to connect with a private lender (PL) to fund these deals. Depending on the size of the portfolio, you might be far better served working with one or more motivated PLs looking for solid long-term returns.
2. Especially when dealing with retiring rental property owners, you should always be looking to make a seller financing offer before you resort to third-party financing. "Tired" (and retiring) landlords are the perfect sellers for structuring seller finance deals, since they are already conditioned to accept payments over time and they likely don't need a large lump sum at the time of closing.

Just food for thought...

[De Chappell]

@Blake A. Rivers thanks Blake! I'll definitely look more into Private Lenders this weekend. Do you all lend outside of FL? 

[Chris S.]

Never any love for Alaska :*(

[Scott Wolf]

@De Chappell, I have a mortgage broker that works with private & hard money lenders if you'd like the introduction.

[De Chappell]

@Scott Wolf Thank you very much. That would be perfect, i'll send you a PM. 

[Magesh R.]

@Blake A. Rivers

What amortization period and term of such a loan?

[Justin Peterson]

Originally posted by @Chris S.:

Never any love for Alaska :*(

Isn't that the truth?