Trying to refinance 30 rental units with a 30 year amortization

2 Replies

I am looking to refinance thirty rental properties. I would like to refinance all of the houses into 30 loans and lock in. Right now I have several portfolio loans from local banks. Most of the loans are locked in for 5 years @ 4.5 to 5%. All of these loans are coming up for renewal about every other month it's a pain and a accounting nightmare. I would need about a two million loan that would be about 65% LTV. I am located in Arkansas. Does anyone know a legit lender that doesn't make you jump through hoops. And paper work you to death. And can actually do this deal. Thank you for you time.

@Clint Everhart ...did you find what you were looking for?  It sounds do-able.  Any lender that can do these is not trying to 'paperwork you to death' but you'll need to be amicable.  All the lenders I do these with are basing on the portfolio itself, not you.
PM me if you can.  I'd be interested in seeing more and knowing who you've talked to, if anyone.

@Jared Rine Thanks for reaching out. I have just started this process. So I only talked with two lenders . Shawn at nnovations. And one other lender but when he started with the up front money I had to cut him loose. At this point I don’t want to make any mistakes. If you know some good lenders please let me know. As you can tell I am lost at finding this type of loan. I tried to do this about a year ago with a local Credit Union that had just started mortgage lending. They said it would be no problem. It turned into a nightmare. I also went to a mortgage broker But when you get several loans going at once it just seems to go south. Any recommendations would be credit is good and my loan to value is about 65 percent . Thank you

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