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Updated over 4 years ago,
Blanket Mortgage for Multiple Units
Hey everybody,
I currently have a fairly new real estate rental company and I am looking to continue moving forward.
I am looking to consolidate/pull equity from several units. I have three single family units that are all currently owned by my LLC and a duplex that is in my personal name that I am looking to wrap into one loan and pull what remaining equity that I can.
What is the best way to go about this kind of structured loan? I have read that a typical LTV for 5+ units wrapped into a loan is 75%. If my math is correct based on the current comps of my properties that would leave me enough to use as working capital in my company for my next purchase as well as getting the duplex out of my name and into the business.
Any help would be greatly appreciated!
Taylor