Line of credit on multiple investment properties

[Michael Elfant]

Hi All,

Has anyone been able to secure a line of credit with a portfolio of investment properties.  I would imagine that the lender would want to refi you and be in the 1st position as well as the 2nd but at this point i'm just trying to figure out whether it's possible or not.  Here is an example:

Let's say I own 5 units.  1 is my primary and 4 are rentals.  I want to take all 5, refinance them into one loan and then take out a line of credit against that one loan.  Has anybody done this?