Refi on homes under 100k

[Michael Stone]

I have 14 units up in Rochester NY and have never found it tougher to refinance 4 of them than right now. Property values are under $100k but all units are updated and stabilized with tenants and cash flowing well. While I understand the climate out there , I find it hard to believe that someone wouldn’t want to blanket or even refi them separately. Been working the phones all day for something concrete but it has been a struggle. Anyone have any insight on this or recommendations on someone that will take on some units a little smaller in loan size? Non QM would be ideal but I can work with anything at this point. Thank you in advance !

[Craig S.]

Ed Touehy @ Upstate.  Talked to him last week.  They're still doing blanket refi on investment properties.  C of O must be current and leases need to be in place prior to closing though.  No more flexibility on that.