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Updated about 9 years ago on . Most recent reply
Bulk loan on my rental properties in the Denver/Golden area
Hi all,
I have a 5 rentals properties in the Denver metro area (condo/townhouses). 2 are paid off and the other three have significant equity. Does anyone have any suggestions on where I could go to get a heloc type loan on all of them put together? I've heard of people doing these, but I'm pretty green in this area. Looking to re-invest the money in rental props, most likely out of state. Thanks for any insight!
Chris
Most Popular Reply
@Chris Billington so what you want to do depends on what product is best for your situation. I don't know of any true HELOC portfolio loan lenders. The commercial loan options mentioned by others would provide you with a bundle of cash secured by the properties. Most would want to take out the existing first positions though.
Are you looking to buy all cash in the new markets or use the funds as down payments securing new loans in the new markets?
Lots of ways to go.