BRRRR Strategy Question

[Charles Williams]

Hi All.  When you go to do the refi cash out are people using the same bank?  Reason I am asking is because the 6-unit building I want to do a refi on,  the lender is giving me a hard time.  I have a total of 77 units.  They state over my entire portfolio my Global Cash Flow is below their standards.  I have a total of 3 loans with this particular credit union with a total of 25 units.  23 of 25 units are rented.  All 6 units in this building are rented.  Overall 68 of our 77 units are rented.  I don't really want to switch lenders, but will if need be.  I thought lenders  look at the property you want to refi not how every property you own performs. What would you all do?  Keep trying to work with this lender or find another one.   

Thanks for any advice. Charlie-VA

[Sam Grooms]

I'd find another one. I think it's best to split your properties between two lenders to get the best terms. They'll both want your business on your next deal, so it keeps their terms competitive.