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 appreciated.my credit is good and my loan to value is about 65 percent . Thank you