Real Estate Agent · Milwaukee, WI · Member since 2020 · 105 posts · 41 votes
Hey BP peeps!
Have any of you have had any success finding lenders in Southeastern Wisconsin(Greater Milwaukee Area) that offer portfolio loans for investment properties?
@Luke J Nelsen there are a number of Portfolio Lenders who lend on on both 1-4 Unit investment properties, or blankets/portfolio loans across 2+ properties. The ticket here with a lot of these portfolio lenders is the minimum value per door. The portfolio lenders we work with for example want to see a minimum value per property of $65,000/door. In the Milwaukee area, this can sometimes be difficult to meet. Some lenders will go a little lower if the rest of the portfolio values are strong, but that's a case by case basis.
Do you have an example of the portfolio that you can share a bit more on?
@Marty Johnston thanks for the reply! I was referring to banks that offer in house loans vs Freddie/Fannie.
I have properties in a market about 40 minutes northwest of Milwaukee and the $65k/unit is not a problem for the loan program you are describing. This type of program sounds interesting as well.