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Updated about 5 years ago on . Most recent reply
How to finance my first rental turn key portfolio ?
Looking into buying a turnkey portfolio is 14 rentals . What would be my best way to finance the 80% left . I have the cash for the down payment . Loan amount would be around 700k .. located in Ohio .
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Originally posted by @Ozzy Llanes:
Looking into buying a turnkey portfolio is 14 rentals . What would be my best way to finance the 80% left . I have the cash for the down payment . Loan amount would be around 700k .. located in Ohio .
Best way to finance this type of stuff is with individual 30 year residential loans. Those will provide the best terms. Problem is you are limited to 10 of these so assuming you have one on your own home you've got at most 9 to use on turnkey rentals. Getting a blanket home on a scattered site rental portfolio like that is just too tough. You'd need to go the commercial route and commercial lenders aren't salivating over that type of stuff so the terms and rates will be rough. If you're cool with the rough terms and rates though you may want to look into Lima One. I've seen them do these loans for several investors.