Cash out refinance on my entire portfolio

[Patrick Howell]

Hello,

Wanted to get your everyone's feedback on this scenario. I'm hoping to leverage some existing equity in my REI portfolio to pay off some student loans. I currently own 5 residential rental properties (with 5 different mortgages) that all have seasoned titles. Total Mortgage balance is 128,416 and the properties are valued at 165,000 all together. Before I approach my broker, I wanted to see what the typical commerical LTV cash-out refi loan requirements are....

Would it be reasonable to request 90% on the entire portfolio? i.e. 90% on 165k=148,500-balance owed (128,416)=approx 20k. Any other thoughts on how to approach this would be appreciated.