Blanket Loan or Other Scenario
Howdy Ya'll, We have 10 single family with 5 paid off and approx 550K in equity within all 10.
I'd like to pull out the equity to purchase more properties. What can you tell me about Blanket loans? Also, we are going to retire in two years. I am 52 she is 42. We will not stop working altogether but cut way back. Is this a good strategy or should we continue to pay off the other 5 and pick up deals as they come. I think in the next 2 years we could pay off the other 5. Thanks for any suggestions.
Most Popular Reply
Blanket loans are back. The minimum number of properties in my blanket loan program are 5 properties. The minimum blanket loan amount is $500,000. The properties must be 90% occupied. Cash out is allowed.