Creative Portfolio Lending Question - Columbus, OH

[Joshua Myers]

Hello,

I'm looking for a way to creatively access some equity in my portfolio to expand here in Columbus ,OH. I currently have 6 LTRs worth a bit over $2mn, with around 700k in equity, cash flow of 4-5k/month and my average CoC is 4.37%. I've had offers to refinance the entire portfolio under a portfolio loan, or to use a commercial loan with a local credit union. A portfolio loan takes my rate up quite a bit and kills my cash flow, and the commercial loan option has a 5 year balloon payment. Both of these options are hard to swallow right now, especially after I played my cards right and locked in crazy low rates when they were at the bottom.

Has anyone had success finding an alternative route to financing and expansion? Any help would be greatly appreciated.

Thanks!