Refi options

[Valentine Serna]

Hi Everyone,

I am Colorado investor that does out of state deals in Texas. I recently purchased a package deal that included 3 single one family homes and 3 empty lots. All are on  adjacent lots bordering each other. I used a hard money lender loan at 12% to close the deal and now am looking at my options of refinancing. Being that its 3 homes, a conventional loan might not work. Is my only option a portfolio loan?

I bought the deal for $145k and the ARV is $170k. The monthly income after expenses even with hard money loan is $580 and can be more once I renew the leases. My goal though is to get the properties under a longer term note.

Thanks for the feedback!