Lending options for a portfolio in Colorado

[Michael Wentzel]

Good evening BP,

My wife and I own 26 units (19 properties) in Pueblo, Colorado. Most of them were purchased between 2013 and 2015. The portfolio is stabilized and cashflowing. We owe about $900,000 on about $1,900,000 in real estate. Each property is a on an individual loan with a regional bank. Most are around 6.5% interest on 20-year amoritization.

We love our bank in Pueblo, Colorado, but they are reluctant to do cash-out refinances right now.

We are looking for another lender in Colorado that would offer...

1) a lower interest rate

and/ or

2) the ability to refinance and pull some of the equity out

Any recommendations?

Mike

Oak Tree Real Estate, LLC