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Updated over 11 years ago,
Portfolio Loan Question - Multiple SFR's
Hi Folks, Have any of you had any luck obtaining a portfolio loan to purchase multiple properties at the same time? We, wife and myself, are contemplating writing a business proposal that states our strategy, purchase 200k worth of cheap midwest SFR's with 25% down. Each property will cashflow @ an average cost of 25K, purchase roughly 8 under this plan. Hoping to use this as a proof of concept to go 5X bigger on the second run.
My concerns are:
1) Will a bank go for the concept when the actual properties have yet to be found.
2) Individual loans are probably out of the question due to the price point.
Thanks in advance
Ben