Lender · Saint Louis, MO · Member since 2012 · 17 posts · 4 votes
Does anybody know of any lenders that are doing lines of credit. Borrower is looking to obtain line of credit to purchase more multi family properties for portfolio. Yrs of experience. Portfolio is currently valued at $7.5M and cash flowing. Willing to use all or some of portfolio as collateral if need be.
Are the properties residential or commercial? How many financed properties does he have? Cash out financing would be a great way to go if your client has 6 or less financed properties.
If there's existing equity in a property they currently own, I'm sure @Jerry Padilla would be more than able to assist them tap into it. If there isn't any equity, he'd be a great person to ask for a referral.
Are the properties residential or commercial? How many financed properties does he have? Cash out financing would be a great way to go if your client has 6 or less financed properties.