Best Way To Pull Out The Equity From Our Portfolio Is...?

[Andrew Campbell]

I'm looking for advice/ideas on the best way to access the Equity we have built up in our portfolio.  

We have 5 small multi-family properties, all financed with traditional 30-year fixed rate loans locked in sub 4.75%.  To continue to grow our business, we need to pull out the equity that has built up.  

Our preference is to keep the existing loans and the great terms we've established--if at all possible.  Does anyone have any ideas on how we can best do this, without converting these all into a single portfolio loan. 

Thanks for the help BP!

[Upen Patel]

@Andrew Campbell you have passed the threshold of 4 properties to be able to do a cash-out. Fannie Mae will not allow cash-out once an investor has 5+ conventional loans. Only Rate-Term refi is allowed. You can refi to a non-conventional lender to do a cash out, and then refi to a conventional in 6 months (at the higher loan amount as Rate-Term).

Or as @Jonathan Towell mentioned, find a local banker who might give you a cross collateralize credit line.

Good luck.

Upen Patel

Federal NMLS# 1374243