Portfolio loan question

[Michelle G.]

Hello,

I have 3 residential rentals on long island the last one was purchased with cash and is being rehabbed. After it is finished it will be rented and i will take a mortgage recouping most of my costs. My question is that I have 2 other properties mortgaged and the both have quite a bit of equity. I would like to be able to maybe do more than one rehab at a time, with access to that money, i could. Can someone explain to me how a portfolio mortgage works. Can i refinance my two current mortgages and the 3rd together??

Thanks in advance

Michelle