All Forum Posts by: Sushil Iyer

It depends on what your interest rates are. I don't think you're going to like the rates for a portfolio loan right now.

@Jordan Ray stop spamming this thread. Nobody said anything about Memphis.

@Sushil Iyer we lived in Texas for about a dozen years and still have property there - one of which is a mid term rental in Temple. My ranking on the area is Belton, Temple, then Killeen. Killeen is rough. That's not to say you can't do well there, but I'd encourage you to look at Belton and Temple (which can also be very rough and block to block) rather than Killeen.

The good news is that there continues to be serious population and job growth in the area.  

76542 is going to be the best zip code to be in. 76543 you are going to want to tread carefully and be sure to check the specific neighborhood and street you are looking at. 76549 has 2 divisions that are very different. North of Stan Schluter Loop you have older homes and multifamily properties. And south of that street is going to be newer, larger homes, a tier up. 76542 is actually very similar to that general rule as well. 

You will probably be better off just doing them separately. I was working with a DSCR lender on comparing options on a seven property portfolio purchase a couple years ago and the difference between bundling them and doing them all separately was negligible.

I would side on the fence that's too far apart for portfolio or blanket lenders. Even if you do get someone who is willing to take a stab at that, my instinct is that they would have some egregious terms worked in there. Just speaking from experience. Its probably best to proceed with two separate DSCR cash out refinance with one broker who can get you lender discounts. Happy to connect! Good luck!

It is possible, this is what's called a blanket portfolio loan. All the same rules of a standard DSCR cash-out refinance would still apply. Are the properties close to in the distance to each other?

It's possible but honestly, there is no benefit to doing a portfolio unless you have too, typically LTV's are lower and rates are higher.

Many pros to doing them separately rather than bundled.

Look for lenders that do "Portfolio Loans".
Mike

Hey Sushil, don't let distance stop you from building wealth. Their is always a team in every market that can help you build your portfolio even when your not "on the ground". I currently am helping alot of new investors like yourself buy out-of-state and they are very successful. Happy to provide you with references if you ever decide to try it out in Memphis TN. Goodluck investing!