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Updated about 9 years ago, 11/01/2015
10 Units Purchased w/cash--43% LTV Portfolio Refi Out Options?
I am curious to hear from portfolio lenders on what my options are in the below scenario:
--10 Single Family homes
--Package ARV 500K (50K per house)
--43% LTV
--Paid cash nothing owed.
--All renovated/performing properties with tenants and leases.
Question, will a portfolio lender cash out refi something like this @ 70% LTV? If so or not what are the terms?
Summary: Looking for a option to pull my cash out and have a note. Properties would still cash flow very well after note and all mx, vac, ins/tax expenses.
Thanks in advance for any knowledge in this area.
V/r,
Desiree'