Cincinnati Blanket Portfolio Refi - Out of state investor

[Matt Mason]

Hello BP nation! 

So, I've spent the last week researching blanket loans and I think I'm at the stage now where this is an avenue I need to explore.  I have 13 units, 7 properties, and five of the mortgages are in my name and am looking to refi several of my properties.  My brother and I are looking to scale considerably over the next few years.  What I still can't quite understand if it's even possible for an out of state investor to refi an entire portfolio of 30 yr fixed loans using a blanket loan?  Does anyone know a national lender or lender in Cincinnati that offers these or am I basically on a hunt for a unicorn.  If any one has been in a similar situation or any advice please let me know!  

Cheers,

Matt Mason

[Alex Bekeza]

@Matt Mason You can definitely do this.  Right now we're seeing 10 year terms/amortized over 30.  Cash Out up to 70% and Rate & Term/Purchase up to 75%.  You can even do unique cross collateral (purchase/refi combo) where you cash out your existing portfolio while purchasing a few at the very same time.