Blanket loan or portfolio loan

[Garrett Vaeth]

Just curious if anyone has successfully closed on 2 or more properties at once that are not owned by the same seller using a single blanket loan/portfolio loan? Currently looking at 2-3 $50-60k sfr properties all being sold by different sellers. 

[Andrew Zamboroski]

Quote from @Garrett Vaeth:

Just curious if anyone has successfully closed on 2 or more properties at once that are not owned by the same seller using a single blanket loan/portfolio loan? Currently looking at 2-3 $50-60k sfr properties all being sold by different sellers. 

Different sellers can be a bit more arduous to coordinate with. Most of the time it’s much easier to close individually and then refinance into a portfolio loan if that is the goal. A recent example that comes to mind is for a client of mine; 10 SFH’s we looked at a portfolio loan for. We’re three weeks in and 6/10 houses are ready to go and the others have issues that would have delayed the package.