Refinancing portfolio loan

[Account Closed]

How do lenders structure a refinance for a portfolio of loans? I understand that there are ways to either bundle it all into one loan? But you could also refinance it loan to house for each single property. Would you be able to do different loan terms when doing so?

Would the closing costs stay separate for each property?

How would a equity line of credit or loan work under this kind of deal?

A ton of questions, but still new and figuring my strategy for my real estate investing. Thank you in for advance for any and all of the help and tips,

[Cameron Tope]

Conan,

Great questions! These are the same questions I asked my lender several years ago. 

I elected to do cash-out refinances on individual properties instead of the entire portfolio because there are a lot of restrictions and rules for refinancing or selling a property in a portfolio loan. 

If you have a portfolio loan that covers several properties and you want to sell one property, then some companies will require you to appraise all the properties again, while some will allow you to simply payoff the loan balance "assigned" to that property. 

If you want to refinance the portfolio loan then you'll have to have all the properties appraised and assigned a new market value. 

With the closing costs and appraisals I found it simpler to have separate loans for each property. It also allows me more flexibility if I was to sell one or two properties. 

Hope that helps!