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Private Lending & Conventional Mortgage Advice

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Steve Boianelli
  • Medford, NJ
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96
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Was a blanket mortgage the wrong option?

Steve Boianelli
  • Medford, NJ
Posted Oct 18 2017, 11:42

I have 4 properties within a blanket mortgage with my LLC. The are 5/1 ARM. Any advice about removing the blanket mortgage and separately having 15 year notes on each of the properties. At this point they are all cash flow positive. However, I can't borrow from the equity in the properties because they are all lumped into one mortgage. I think I took a bad deal here. Anyone have experience with this?

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