Refinance after cash purchase

[Pete Abilla]

I have an opportunity to buy a 5 single family portfolio. No rehab needed, all with tenants already. Here’s my question:

Is it possible to get a hard money loan to purchase the whole lot, then refinance all 5 as a portfolio to pay back the hard money lender?

[Chris Coleman]

@Pete Abilla

If your credit score and DTI qualify, then you can get 5 mortgages, even conventional, and close simultaneously. If you want to go portfolio or commercial, then you can definitely get a loan to cover all 5 properties, assuming they are cash flowing. You'll also need to show reserves.