Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on .

User Stats

42
Posts
2
Votes
Harshil Kakadia
  • Woodbridge, NJ
2
Votes |
42
Posts

Portfolio Lender or Blanket loan

Harshil Kakadia
  • Woodbridge, NJ
Posted

Hello,

I hope you are doing well.

I am getting into contract for 12 unit condominium portfolio. Each condo is $27k and three of them are rented at $1150/month. 7 of the units needs cosmetic upgrades like carpet, paint and clean up. Cost per unit is about $5000/unit.

I have tried a few institutions and private lenders. Most of the deny the financing because of each unit is less than $75k and they do not do blanket loans. I have enough cash to do 25% down payment and pay partial costs of repairs. 

Is there anyone out there who can help me out with this riddle? The return on this deal is amazing and I do not want to let it go. 

Harshil