Looking at / Portfolio Loan Option
Hello, I love BP and am leaning on you as readers with experience to help us make good decisions on portfolio loans in general. I am re-posting this question - Evidently I was asking for loan providers and opinions of people without experience. To be clear...
I am looking at putting several of our rental properties in a 30 year fixed portfolio loan. I am looking for anyone who currently has a portfolio loan and what they have to offer in respect to things to look for or look out for. If you have a portfolio loan on more than 5 - or more properties, and have any thing to help with this decision process while we are reviewing lenders, like what out for... unfavorable terms, hidden charges, prepayment penalty clauses, or bad experiences please reply to this post.
I am not looking for companies or individuals who have products to offer or information on situations you have not had personal experience with. Please start with How many properties are in your portfolio loan. Then the experience you had with your loan. Since this is my first time with this type of loan, I am sure others can learn from your experience also.
We want to keep all our properties in our LLC for insurance and asset protection reasons. Please do not post any specific company information. You can PM me if you want to share a great or horrible experience with a specific company.
Thank you,
Mike