Blanket Loans

[Farril De foor]

Were thinking of doing a blanket loan with numerous properties we have.
Does anyone have thoughts wheather pro's or con's any advice is appreciated.
Thanks

[Steve C.]

@Farril De foor

I have 4 properties in NY that I have searched for a lender to do a blanket loan on. I was told by most banks that they dont do them anymore and the one that I found that did would only do a max term of 5 years with a somewhat high rate.

Pros that I found are lower closing costs than individual loans and Cons were the short term and the fact that if you sell one property the funds have to be applied towards paying back the loan.

Let me know what you find out.