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Updated over 5 years ago on . Most recent reply
line of credit against multiple properties
Hi BP experts, I'm looking for ways to get a line of credit that could borrow against multiple properties. I have a small portfolio that has accumulated quite a bit equity by paying them down and appreciation over the years and they are all stable asset with good cash flow. I'm wondering if there are ways to get those equities out. I've talked to bigger banks and they could do refinance one by one which takes time and money and inflexible. I'm looking for flexibility. Could anybody help and give me some comments? Thank you.
Most Popular Reply
Thankyou @Jake S. @Jerry Padilla @Michele Wax @Tarik Turner. I'll look into this. It seems this type of product really exist. Is it called portfolio loan? Is it basically lender will take on the first position on the debt of all properties and 2nd position on the equity of the properties for line of credit(LOC)? Thank you guys!