Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Illinois Real Estate Q&A Discussion Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

User Stats

45
Posts
8
Votes
Gonzalo Escobar
  • Chicago, IL
8
Votes |
45
Posts

Help with finding portfolio lender for high networth landlord

Gonzalo Escobar
  • Chicago, IL
Posted

I have built a pretty decent sized rental portfolio of 6 condos, two 3-units, a 2-flat, a 5 unit a 6 unit and an owner occupied 4-flat all in chicago. My portfolio has a value of around 5.75Mil and I have 2.7 Mil in debt, including my primary, at an average rate of 3.86%.

In addition to this I have an S-Corp consulting business. As my tax returns have grown more complex getting conventional financing has become increasingly exhaustive with my last fannie mae conforming refinance taking 5 months.

I have around 575 liquid in deposit account in addition to all the equity in my portfolio. I am hoping to find a bank that does portfolio lending and offers better terms through its private banking wing.

Any recommendations would be well received.

I found one lender that through its private banking wing offered 100% LTV interest only cashout-refinance at 4.125%, but I must pledge securities in the amount equal to cash out proceeds beyond 80% LTV.

Loading replies...