All Forum Posts by: Michael L.

Are you still looking for a lender to help you with this deal? I see its been over a year ago, but wanted to check, we hit the market at the beginning of the year. 

@Bob Foglia Some portfolio lenders are national. We can finance properties in all 50 states 

Since the downturn a group of single-family rental lenders has emerged to provide debt solutions for investors with 10 or more properties as well as alternative options for those capped out of DTI restrictions on conventional loans, who want to purchase or refinance sfr properties.

Portfolio loan basics: 5-yr term, 30 yr am, rates between 5.5-7.5%, non-recourse

Check out Peerstreet. It is a very interesting platform along the lines of what you are looking to do

What are you looking to do with the financing?

Depends on what you are looking to do and what a bank or portfolio lender offers. One advantage to many of the portfolio lenders is they offer non-recourse loans. Also, the way banks look at DTI versus portfolio lenders is different.

What are you looking to do? Purchase or refi? What kind of properties are these?

The portfolio lenders I am familiar with provide financing based on rental cash flow. They entered the market to fill the lending void left by traditional banks in the residential investment space. Some portfolio lenders offer non-recourse loans which is worth a couple points on rate any day. 

Portfolio lenders can do the type of transaction you are describing. If you do a cash out refi on a SFR pool you own outright, you can use those proceeds any way you like. I'd be glad to help. Thanks.

@John Clark Are you looking for a recourse or non-recourse loan?