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...
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.