Portfolio lenders or blanket loans
I am just starting out in real estate investing. I have purchased 4 properties this year. I am having trouble buying any more because the banks don't want to lend to someone who has 4 outstanding loans. I paid cash for one place but they are also counting my home mortgage. I would like to find someplace that would do a blanket loan on the places I have so far so I can continue on my way to financial freedom. Does anyone know if this is possible or do I need to slow down and pay off what loans I have accumulated? Thanks in advance for your help.
Most Popular Reply
Local small community banks will do the deal... You must bring in a nice business plan of what you are looking to do and how you plan on paying off loan portfolio.. It is almost like an interview for a job when go meet with them!!
Good Luck!!