Loan Management for Several Assets

[Ron Amshalom]

I want to start optimizie my portfolio, therefore I want to do it on the loans side first.
If you have some wisdom to share - I will be greatful!

Loan Tracking: How do you efficiently manage multiple loans? (Tools, spreadsheets, etc.?)

Refinance Timing: What are your absolute "must-refi" triggers? (Rate drops, equity, etc.?)

Rate Optimization: How do you ensure you're getting the absolute lowest rates possible? (Negotiation tips, lender comparisons, etc.?)

[Jeff Wills]

Another option you may have not yet considered would be a blanket insurance policy, this could save you substantial operating costs, which would boost your funds available on a refi due to lower operating costs. 

Depending on your portfolio size, Mortgage Automater is a great tool but may be too pricey to make sense for you yet. 

Refi's in my humble opinion should only be utilized when the market rate makes sense to make another purchase or improve the property, and that expected return is about 25% above that rate. Otherwise, the renewed PITI may hurt you more than help in the long run.

Rate Opt, find a good lender that acts more as a fiduciary/partner than a lender. This way, they will look out for you and actually show you how to get the best rates. Most lenders wont tell you, but you can actually buy down any rate to the lowest possible, but the cost is the biggest crux. Most time the pricing will be put you over the golden ratio of 36 months to recoup the savings on the lower rate. If you can buy down the rate, and recoup within 36months, it should make sense in the long run. 

Keep in mind we should see rate cuts this year, so patience on that front will likley be your friend. 

All the people that I have tracked that survive all markets are the ones you do not lever more than 70% LTV on any asset they have. This hurts growth yes, but ensures you are around in the downturns, which should allow you opportunities to pick up on others higher levered mistakes as well.