All Forum Posts by: Keith Wilson

Quote from @Doug Smith:

A 30-year fixed rate on a non-owner-occupied investment portfolio isn't something that is available in this day and age. Here is a screen shot from industry publication Mortgage News Daily that I just took of the national average of 30-year-fixed rates for OWNER-OCCUPIED mortgages. There would be a risk-premium (higher-rate) for investment property. 

Thank you I am open to exploring any options that are beneficial. Maybe a 20 year loan with a 5 year balloon amortized for 30 years at a decent interest rate. We have plenty of equity in our portfolio. At the end of the day if it is better to keep our loans structured like we have then that is fine. 

Quote from @Doug Smith:

Hi Keith, I like complex loans...they are more interesting to do. What are you trying to accomplish with the refinance? I assume avoiding the balloon? Rates and terms? What you are seeking can be accomplished, but it will take a really strong understanding of your situation to work through the pros and cons of any move you make. 

I would love to have a 30 year lock on a portfolio loan at a decent rate less than 7% if that is possible or if their is a better option I am open to looking into any other option. I do plan on holding the rentals for awhile. The total portfolio is valued at a little over 3million and we owe around 1.6milliom so we would want to pull out a little equity on the properties. 

I have a question about my best financing options for our small portfolio in TN. We currently have 32 units which is one commercial building, a STR, SFR's, triplexes, duplexes, and a little bit of land. All of the current loans are in our LLC's name with most of them being a 5 year balloon amortized for 20 years at interest rates between 5%-9.5%. Thank you for any help.