All Forum Posts by: Brent Kelley

Gotcha. That makes sense!

Thanks Mike. Sounds like a mess! Maybe I'm not understanding but if fannie is counting everything in your LLC toward your 10, then what is the point of all this? Is it the fact that you will now have 1 loan instead of 10... opening the door for 9 more? Thanks.

Thanks Mark. That makes sense. 

Thanks for all the info guys. 

Curt, I actually had heard something similar with regard to the blanket loan. I heard you could put them in an LLC.

Thanks Frank. I appreciate the info! Good luck on your upcoming refi. Sounds like a good opportunity to buy some more places.

Good luck Curt! I might be looking into something similar soon, if I can find a good lender. What kind of terms are you looking at on the loan? Is it fixed or adjustable?

Has anybody out there had any success with putting multiple properties under a blanket loan? What were the terms like? Did it affect your cash flow at all? I have 10 properties and am considering getting a loan of this type to free myself up to buy more rentals with conventional financing. Thanks!

Michael,

I am an investor here in California and I love investing out of state. I haven't looked into Kansas City yet but I wouldn't be surprised if its a great market out there. Personally, even though I live in Cali, I prefer not to invest here. Its extremely expensive and doesn't really offer much in the way of good cash flow. My strategy is to buy and hold, and you just don't get as much bang for your buck as you do in other parts of the country. Prices are very dynamic though, so if you were looking to flip houses it might be a place to look into. Not for me though. Way too expensive and therefore, very risky.

I guess to answer your question, I look for areas where I can buy single family homes relatively cheep (under $100,000), that will cash flow well and hopefully appreciate in value, in cities with a strong economy.

Thanks Douglas. From what I understand about Dodd Frank, it mainly affects us (as investors) if we want to sell properties to consumers and carry the note. How does the law encourage lenders to engage in portfolio lending? Regardless, its good to hear that blanket loans are back and becoming a decent option. 

Eddie, my properties are in Memphis (TN), Jacksonville (FL), and Birmingham (AL). Thanks guys.

I recently closed on my 10th property and, according to Fannie Mae, I'm cut off! I have been looking into other options such as blanket loans and portfolio lenders, so that I can continue investing. From what I understand, a portfolio lender is the way to go. However, I'm having trouble finding one in my area... that will do loans out of state. I live in California but my rentals are all in other states (since California is ridiculously over-priced). Any tips on what to do or how to find a lender that will accommodate me? Am I searching for something that doesn't exist?? Thanks.

-Brent