All Forum Posts by: Jason H.

Hi @Joe Homs, just confirming, is tonight's event still going on? If so, I'd like to join. 

@Glenn Kopensky, thank you for your feedback. Nice to hear refinancing into a blanket loan worked for you! I've also heard that a commercial loan doesn't show on a credit report or included in the FNMA limit. Can anyone verify if this is in fact true?

@Wayne BrooksI've heard the limitation is on # of mortgaged properties and I've also heard from others, the limitation is on the # of notes. Thank you for the clarification.

Is there anyway to achieve 20% down on my next purchase rather than 25% down? 

Thank you for the feedback. Would I be able to refinance 2 conventional loans into one conventional loan or would I have to refinance into a commercial blanket/portfolio loan?

Hi @Chris Mason, thanks for your reply. I have 20-30% equity in 5 of the homes. Any suggestions?

Hey All,

Currently I am holding 6 conventional loans and would like to combine 5-6 of the notes into one refinanced blanket/portfolio loan. My objectives are:

1. Hold less notes, so I can finance more properties conventionally. 

2. Reduce the number of notes, so I can obtain investment loans at 20% down, rather than 25% down

3. Free up funds for down payments either through a cash out refi or investment property equity line of credit. 

Questions

1. Does anyone have experience combining notes into a blanket loan effectively? If so, what type of bank did you go through and did you run into any issues

2. Is it possible to get an investment property line of credit without any of the properties being my primary residence? 

Any suggestions and or feedback is greatly appreciated. 

Thank You,

Jason

I appreciate all of the solution based suggestions and feedback! @Ralph R. @Jay Dean @David Zheng @Jim Shepard

@Jon Burns your advice is solid! I am going to send her an email/text stating that I will be filing for an eviction tomorrow if she doesn't call me today. If she doesn't call me, I will move forward with filing the eviction tomorrow morning. 

@Michael Bowman, great advice as well. I'm interested in using your eviction attorney for the eviction for $350 out the door. I will contact you via email or phone call to get more info. I'm open to property management, but other than this tenant, have had success in doing it on my own, with little time spent, with my four other SFR's in the area.