Small Portfolio Loans... Even Possible?

[Paul G.]

I have a Condo that I'm looking to buy with a partner.  But it looks like the property wont be warrantable because about 50% of the units are currently rentals.  I've been told that a Portfolio Loan could work in this scenario.

The problem is the property is only about 80K. Are there any banks/lenders that would be a sub 100K portfolio loan? Or am I stuck to HML / Cash only? Is it even worth it to the bank to loan on such a small amount?

If anyone has any suggestions, I'm more than willing to listen.  I'm in Arizona if that makes a difference.

[Chris Martin]

I have financed lots of them (dozens) over the last decade through our commercial lender. We packaged them up in a tranche with SFR and townhomes, usually 6 to 8 at a time... all were well under $80K individually, but the tranche was usually $250K to $350K or so. So, yes, it's definitely possible.