Lenders offering portfolio loans in SE Wisconsin?

Question

Hey BP peeps!

Have any of you have had any success finding lenders in Southeastern Wisconsin(Greater Milwaukee Area) that offer portfolio loans for investment properties? Thanks,

Luke

Marty Johnston · Answer

@Luke J Nelsen there are a number of Portfolio Lenders who lend on on both 1-4 Unit investment properties, or blankets/portfolio loans across 2+ properties. The ticket here with a lot of these portfolio lenders is the minimum value per door. The portfolio lenders we work with for example want to see a minimum value per property of $65,000/door. In the Milwaukee area, this can sometimes be difficult to meet. Some lenders will go a little lower if the rest of the portfolio values are strong, but that's a case by case basis.Do you have an example of the portfolio that you can share a bit more on?Thanks Luke!

Marty Johnston · Answer

@Luke J Nelsen - We can chat about Fannie/Freddie as well as some of the options described above. I look forward to connecting with you!

Luke J Nelsen · Answer

@Marty Johnston thanks for the reply! I was referring to banks that offer in house loans vs Freddie/Fannie.

I have properties in a market about 40 minutes northwest of Milwaukee and the $65k/unit is not a problem for the loan program you are describing. This type of program sounds interesting as well.

We should chat next week!

Luke