How can I use equity across 11 res units without refinancing each

[Emmanuel N Okafor]

I have hit a brick wall in my real estate investment business. I have maxed out on rentals I can finance. I currently have 11 rentals. One is fully paid off and I just moved into a new primary house with my family. I have been buying at least one house per year for the last 6 years. I have a little over a million dollars in equity in my 11 rentals. I don't know how to leverage that equity without refinancing each house and I don't want to do that. I refinanced most of the houses last year with low interest rates. I want to wait at least 5 years before messing with the current financing so I can break even on the cost of refinancing. -

I am interested in getting into multi-family houses or apartments using a portion of my current equity. I have called many banks and no one will give me a blanket loan with my rentals as collaterals or a line of credit for the million dollars I have in equity across my 11 properties. Most commercial banks wouldn't mess with residential properties and the personal bank side wouldn't allow me to combine the equities of all my rentals. Most are offering cash-out refinancing of all the properties individually which I don't want to do 

Is there another option I should consider?

[John Warren]

@Emmanuel N Okafor congratulations on the success you have had thus far in your journey! As you look to make the jump to commercial, it will be a mind set shift for sure. The interest rates and terms are going to look less attractive in the sub 1 million dollar loan space. 

If I were in your shoes, I would think about flipping one or two of your less desirable homes to capture the equity. I know there is a lot of focus on using those "golden ticket" conventional loans, but once you jump into multi units it is just so much more scalable. Also, the financing on larger multifamily buildings is actually more attractive in a lot of ways than single family homes right now.