Portfolio loan 6 properties in the houston area

[Marilena Medina Bernal]

Who knows about loans for a portfolio of a few houses. Does anyone have good or bad experience with that?  I guess the key is to be able to pull a property out or even add one back in in the future without a lot of costs or paperwork.  

[Stephanie P.]

Originally posted by @Marilena Medina Bernal:

Who knows about loans for a portfolio of a few houses. Does anyone have good or bad experience with that?  I guess the key is to be able to pull a property out or even add one back in in the future without a lot of costs or paperwork.  

Hey Marilena

Some people like blanket loans and others don't. The convenience of having one payment for multiple properties is a big deal for some, but the hassle and cost can be excessive. If you want to pull a property out of the portfolio it will be costly and may or may not be allowed by the lender. There are many factors that affect the ability to pull a property out of the pool including, but not limited to, the overall LTV, the number of properties in the pool and and percentage of value the one property you're pulling out. The lender is lending a dollar amount on a specific value and the property coming out of the portfolio contributes to the overall value. By taking one out, you're depleting the value of the entire loan which has probably been sold once or twice to a variety of servicers. Short answer, it's neither cheap nor easy to pull a property out of a blanket loan and a lot goes into the decision. I would say it you're even thinking of starting a blanket loan with the thought that you'll be pulling one or more properties out, just do them individually and save yourself some hassle and a lot of money.

Stephanie