Anyone used a Portfolio/Private loan for investment property

[Todd Pippin]

Hi everyone,
I'm an investor that has filled up all my conventional loan spots and I have more properties that I have purchased in cash, rehabbed, and looking to pull my money out.  (Single Family) I'm having a hard time finding a legitimate portfolio or private lender that will do a fixed 30 year loan/cash out refi for these investment properties. 

I'm finding some companies out there, but not sure how legitimate they are.  Almost seems too good to be true regarding their rates/terms.

Haus Lending?

American Financial Network?

Any info or experiences would be great, appreciate it!

[Stephanie P.]

Originally posted by @Todd Pippin:

Hi everyone,
I'm an investor that has filled up all my conventional loan spots and I have more properties that I have purchased in cash, rehabbed, and looking to pull my money out.  (Single Family) I'm having a hard time finding a legitimate portfolio or private lender that will do a fixed 30 year loan/cash out refi for these investment properties. 

I'm finding some companies out there, but not sure how legitimate they are.  Almost seems too good to be true regarding their rates/terms.

Haus Lending?

American Financial Network?

Any info or experiences would be great, appreciate it!

What's not legitimate about the myriad portfolio DSCR brokers/lenders here on BP?

If you're looking for a lender/broker,  you could try guys like @Tarik Turner, @Jared Rine or @George Despotopoulos.

They are all over BP with good explanations of situations, sound pricing examples and reasonable LTV's. I don't know anything about Haus Lending or AFN although they're really nothing more than big brokers.

My advice is find the person you feel comfortable with, do a little research to see if they know what they're talking about and move forward.  In reality, if you find someone on BP that has thousands of posts and a boatload of votes, I can assure you that person knows what they're talking about and can guide your loan to close.  Otherwise, they'd be flamed online.

Stephanie