Portfolio lender vs. Commercial lender

[Dante Pirouz]

My husband and I have been investing in buy and hold rentals for 3 years now and we currently own 7 units across 3 properties. We have steady income as professors and strong credit ratings. As of this year our tax returns show rental income for the last 2 years and currently we have approximately $200K in equity across all of our properties.

I would like to move away from my traditional residential lender and start a relationship with either a portfolio lender or a commercial lender so that we can pull out some equity from our current properties for a down on a 20 unit in our area which is offered to us with seller financing and to build a long term relationship as our business grows.

Can anyone tell me what the difference might be between a portfolio lender and a commercial lender or are they essentially the same thing?

I plan on making calls one by one to all of the local banks in Northeast Michigan to ask whether they do either one or the other (portfolio vs. commercial lending) and whether they would be interested in working with us but I wanted to find out what the difference is before I do that. Any details on this would be tremendous! Thanks!!