We are looking for a lender who can provide a loan of $400,000 to $500,000, secured against 22 prime lots with a current value of $800,000 to $900,000.

I did all of my loans with small local banks in my area and was always happy with the rates and service.

In October of 2023, my wife and I sold the final two parks of our portfolio to Blue Metrix Group.

Question: Should I collateralize the loan (if using private or hard money), or rely on roll-over loans (to maximize the lower points and 3-4% rate)?

The Note/Mortgage for each loan states the dollar amount invested & the % of the total loan by name, for each investor. 

They finally get back to me after the close date to say they need more time because they are try to cross collateralize their other properties to make this deal happen and the bank they were using doesn't do this kind of loan. 

Since it was over 12 months with my HML, I ended up taking the property under my name with a 30-year conventional loan.

Are there other options that could be better for a construction to perm loan (not through a traditional bank)???

Purchase price: $302,500 Cash invested: $5,000 Utilized VA Loan for a House Hack for my first Rental Property.

Is there a pre existing loan with that bank with either of you?