Accessing equity from multiple properties in one loan?

Question

I have up to $1m in equity across 5 different properties.  I would love to put some of this excess cash to work in other properties.  Is there a loan product out there that I might qualify for that pays off all my other loans and gives me just one loan. i.e. a cash out refi on 5 properties all in one go? What is the name of the loan I should go for? What might be some drawbacks to getting one of these loans?

Oliver Carey · Answer

Portfolio Lenders can provide up to 80% LTV on Refinances at rates starting at 4% with a great FICO and can close in 2 weeks low doc and no do options

Nicholas Covington · Answer

What you are specifically looking for is a "Blanket" portfolio loan. These can be nice on paper but I generally tell my clients just to do single loans as its a bit easier. There are plenty of lenders out there that do not allow you to sell single properties while under a blanket loan so you are forced to refinance again.

Derek Carroll · Answer

@Russell Buxton

This is common but not all lenders like it. Consider negotiating for “release provisions” in case you want to sell off one of the properties. This allows you to pay down the loan proportionally when you sell a property and not have to pay off or refinance the entire portfolio.

Fred Shatzoff · Answer

There are portfolio loans available.  Properties must be in same state.