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Updated about 4 years ago on . Most recent reply

User Stats

32
Posts
5
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Ben Kniesly
  • Specialist
  • Tampa, FL
5
Votes |
32
Posts

9 residential 30 year fixed mortgage is in my name .

Ben Kniesly
  • Specialist
  • Tampa, FL
Posted

I would like to consolidate the 9 30 year fixed mortgage (currently in my name) into one loan and open up a revolving line of credit to move on additional deals.

The nine houses have 70% equity.

I’m a professional engineer by trade, this small portfolio , valued at 2.9 million, took me 15 years to assemble it cash flows very well I’m conservative but interested in how to grow

Thanks for your suggestions. 

Most Popular Reply

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16,433
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12,718
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Ned Carey
Pro Member
  • Investor
  • Baltimore, MD
12,718
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16,433
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Ned Carey
Pro Member
  • Investor
  • Baltimore, MD
ModeratorReplied

You didn't ask a specific question but I assume you are asking how do I grow with a 10 loan limit.

Why do you think loans are limited to 10? They are not. Obviously there are owners with not just hundreds but sometimes thousands of properties. You just have to look for different types of loans.

Follow the advice or @Brian G. and ask around for different loan products. I would add to call mortgage brokers and commercial lenders. You could refinance you 9 properties with a blanket loan and then start al over with 10 conventional mortgages again. 

  • Ned Carey
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