What are good terms for a portfolio loan?

[Michael Wentzel]

So I'm about to go shopping for a second portfolio lender. My current portfolio lender is a regional bank and has been great. They have done five portfolio loans for me at 5%, amortized over 20 years with a 5-year balloon. They would like to wait 6 to 12 months before doing another one. But I would like to keep acquiring properties and I'm about to go looking for a second portfolio lender.

I know terms probably vary widely, but what kind of terms have you been getting from your portfolio lender?

Mike