Portfolio loan new investor, pull cash out

[Charles D.]

What sort of qualifications does a local bank typically look for when generating a portfolio loan? Here is a hypothetical scenario for the borrower: Assuming the loan is against a 2-3 family rental bought with cash. New investor, first investment property Owned by an LLC (single member) Want to pull cash out for another deal. The single member would qualify for a conventional loan (good credit, low debt to income etc.)