Rehabbing & House Flipping
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 8 years ago,
Refinancing out of a Portfolio Loan? Advice / Strategies?
I am currently under contract for 3 properties (4 doors) at $155k. The current rent on all doors is $2300 / month which I would love to just keep. However, this being the first time buying multiple properties at once, I have some questions:
1) If I just want to get a long term loan and keep the mortgage / rent the same - who would be the best person to provide a loan like this to an young LLC? Local Bank? B2R? Commercial?
2) One of the properties needs about $20k and the other two probably could use about $5-10k in repairs. If I wanted to take hard money and refinance out of this, could I refi as a portfolio again? Or can I refi each house separately?
Has anyone done anything like this and provide any advice?
Thanks!