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Updated over 3 years ago on . Most recent reply

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Todd Pippin
5
Votes |
10
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Anyone used a Portfolio/Private loan for investment property

Todd Pippin
Posted

Hi everyone,
I'm an investor that has filled up all my conventional loan spots and I have more properties that I have purchased in cash, rehabbed, and looking to pull my money out.  (Single Family) I'm having a hard time finding a legitimate portfolio or private lender that will do a fixed 30 year loan/cash out refi for these investment properties. 

I'm finding some companies out there, but not sure how legitimate they are.  Almost seems too good to be true regarding their rates/terms.

Haus Lending?

American Financial Network?

Any info or experiences would be great, appreciate it!

Most Popular Reply

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Stephanie P.
#4 Mortgage Brokers & Lenders Contributor
  • Washington, DC Mortgage Lender/Broker
2,757
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4,876
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Stephanie P.
#4 Mortgage Brokers & Lenders Contributor
  • Washington, DC Mortgage Lender/Broker
Replied
Originally posted by @Todd Pippin:

Hi everyone,
I'm an investor that has filled up all my conventional loan spots and I have more properties that I have purchased in cash, rehabbed, and looking to pull my money out.  (Single Family) I'm having a hard time finding a legitimate portfolio or private lender that will do a fixed 30 year loan/cash out refi for these investment properties. 

I'm finding some companies out there, but not sure how legitimate they are.  Almost seems too good to be true regarding their rates/terms.

Haus Lending?

American Financial Network?

Any info or experiences would be great, appreciate it!

What's not legitimate about the myriad portfolio DSCR brokers/lenders here on BP?

If you're looking for a lender/broker,  you could try guys like @Tarik Turner, @Jared Rine or @George Despotopoulos.

They are all over BP with good explanations of situations, sound pricing examples and reasonable LTV's. I don't know anything about Haus Lending or AFN although they're really nothing more than big brokers.

My advice is find the person you feel comfortable with, do a little research to see if they know what they're talking about and move forward.  In reality, if you find someone on BP that has thousands of posts and a boatload of votes, I can assure you that person knows what they're talking about and can guide your loan to close.  Otherwise, they'd be flamed online.

Stephanie

  • Stephanie P.
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