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Updated over 3 years ago,
Buying a portfolio of rental properties
I own a few SFH rental properties and have for years. Own my primary residence and have refinanced both so I'm familiar with the lending process/steps.
I’ve been looking at local multi family properties which has led me to portfolios. I’ve read articles and watched a few videos but I’m still confused on the general process.
I see a listing for 6 SHF together. There is a price and a pro forma. Say I like the numbers. I get a rough value for each individual property and decide I want to purchase. It’s listed on say realtor or loopnet. Do I treat this as a normal purchase and get funds, pre approval, contact agent? Do I talk a bank and get a commercial loan? What are my next steps to buy a portfolio as an individual W2 earner? Thanks