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Updated almost 5 years ago on .

User Stats

75
Posts
31
Votes
Ryan Jopson
  • Real Estate Investor
  • Hamden County, MA
31
Votes |
75
Posts

Lenders offering secured LOC cross-collateralized among assets

Ryan Jopson
  • Real Estate Investor
  • Hamden County, MA
Posted

Good Afternoon,

My self and a business partner own a portfolio of smaller multifamily properties (2-4 units). We are looking to expand operations and thus are researching the lending market for line of credit opportunities. We have significant equity built into each property however there are underlying factors involved that may not make our situation so vanilla

1) 4 properties are held in one LLC owned 50/50 between myself and business partner

2) 3 properties are held in a different LLC owned 50/50 between my business partner/wife

3) Another property would be identified as a "primary residence" and that is also owned between my business partner and his wife.

4) For reference: I am related to business partner and his wife.

Line of credit we are searching for would be in 2nd position to the mortgages on properties mentioned above.

Again, I understand this request may not be so cut and dry. If anyone has experience with something of this magnitude any expertise would be helpful.

Thoughts, insights, or comments are appreciated.

Thank you