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Updated over 6 years ago,

User Stats

415
Posts
498
Votes
Mike V.
  • Rental Property Investor
  • Campbell, CA
498
Votes |
415
Posts

Blanket Loan for Short Term Rentals?

Mike V.
  • Rental Property Investor
  • Campbell, CA
Posted

I currently own several very successful STRs in Hawaii.  I'm looking to diversify out of the state.

I found a new area i'm interested in expanding to.  Each property is around 250k.  All in, around 1.25m needing around a 1m loan.

I will qualify for the loan; excellent credit and income etc, willing to do 70% LTV. Also fine if it's a recourse loan.

My question is;  are there any lenders who offer a product like a Blanket Loan to help me acquire 5 new properties to my portfolio.  The numbers on the properties are fantastic and have no concerns on the ability to repay.

The issue is; the lenders i'm seeing that offer these loans like Corevest want stabilized non short term rental properties.  

I don't want to get 5 individual loans... 

Any ideas?

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