Leverage

Multi-Family and Apartment Investing
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Leverage

TJ G.
Investor · Irmo, SC · Member since 2015 · 3 posts · 2 votes
I have been buying and holding in SC for the past three years, but I would love to grow my my portfolio to include multi family units and eventually apt complexes. Any advice on how to leverage my current properties in order to make the bigger purchases? Thanks in advance, TJ
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Larry Turowski
Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes
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@TJ G. You don't give any current debt information.  Do you own these outright?  There really is no secret to leverage rentals.  You either get a mortgage or home equity loan.  Not too many banks offer HELOCs on rentals, but some do.  For a mortgage you could go conventional, portfolio or use a private lender.

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  • Larry Turowski
    Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes
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    @TJ G. You don't give any current debt information.  Do you own these outright?  There really is no secret to leverage rentals.  You either get a mortgage or home equity loan.  Not too many banks offer HELOCs on rentals, but some do.  For a mortgage you could go conventional, portfolio or use a private lender.

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  • TJ G.
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    Investor · Irmo, SC · Member since 2015 · 3 posts · 2 votes
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    I own the properties outright. Would it just make sense to do a cash out refi?

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  • Jared RineBusiness Member
    Lender · Sacramento, CA · Member since 2009 · 1k+ posts · 277 votes
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    @TJ G.

    It could make sense to do a cash out refinance, but it really depends on how the numbers look on the refi and also what you're going to be purchasing.  There's not much to this.  You need to or have someone analyze the situation, see what's possible for the refi, see how the numbers look and then look at the numbers on the purchase and see how they all together affect your financial situation.

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  • Bryan Hancock
    Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
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    You may be able to find some loan product where the lender would allow you to pledge your current projects as collateral for an acquisition loan. This is a good question for an experienced CRE mortgage broker. @Darryl Dahlen used to post frequently.  You may try reaching out to him.  

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  • Jared RineBusiness Member
    Lender · Sacramento, CA · Member since 2009 · 1k+ posts · 277 votes
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    @Bryan Hancock...good advice.  Funny you post about Darryl.  I work with Darryl.

    Best,

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  • Darryl Dahlen
    Commercial Loan Officer · Southern Maine, ME · Member since 2009 · 782 posts · 415 votes
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    Thanks for mentioning my name, Bryan. I'm still around, but I am very focused on our multifamily loan origination side which keeps me busy. As Jared mentioned, he works with me so I let him handle the active posting side here on BP these days.

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