Blanket Loan for Short Term Rentals?

1 Reply

I currently own several very successful STRs in Hawaii.  I'm looking to diversify out of the state.

I found a new area i'm interested in expanding to.  Each property is around 250k.  All in, around 1.25m needing around a 1m loan.

I will qualify for the loan; excellent credit and income etc, willing to do 70% LTV. Also fine if it's a recourse loan.

My question is;  are there any lenders who offer a product like a Blanket Loan to help me acquire 5 new properties to my portfolio.  The numbers on the properties are fantastic and have no concerns on the ability to repay.

The issue is; the lenders i'm seeing that offer these loans like Corevest want stabilized non short term rental properties.  

I don't want to get 5 individual loans... 

Any ideas?

I've been touting what you've been doing.

I guess people think I'm a flake....... Lol. 

Little do they know. The 🔢 S actually work. 

I'm having trouble getting a condo. Tel cash out in Hi. It's a no go zone.