I’m looking for some recommendations on a lender willing to lend on a bundle of properties. Meaning, instead of doing a (or several) small HELOC on an individual property, do one large one on my portfolio of 15 rentals. My goal is simply to access my own “hard money” in-house. Any referrals? Anyone do this and have tips or caution for me? Thanks!
I have a great guy who steps up to the plate to go out and find the best options and rates for anything I need. He is very knowledgeable and I bet he could at least discuss with you. If he can't help you he will refer you to someone that can. He had done that for me also.
Pm me if you are interested in getting his info.
I would have thought that the very definition of (any) "Portfolio Lender" - is exactly that!
But sure, if you want recommendations for GOOD ones, then that may take some narrowing of definition.
Mind you, there's still a lot to be said for having a separate Loan for each property in your portfolio...
@Brent Coombs I'm all ears on the pros/cons for the portfolio loan approach! We do have great terms on our current loans, and we'd need to weigh the options based on the terms of the loan options. Would you recommend a line of credit instead?
@Clay Winder , if you've got 15 rentals already, are you saying that ALL of them are already paid off? Otherwise, how are the loans split up at the moment? [Sorry, I know you're still waiting for ACTUAL experienced borrowers to weigh in].
I don't have any pre-conceived preference for loan type, so long as the terms/numbers still work, AND gets approved!
@Brent Coombs , They are all on loans still of various structures. The challenge is that we have a decent amount of equity building that we'd like to unleash on new projects.
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