Long story short he owns the neighborhood and he is looking to liquidate these properties from his portfolio.

So I was cold calling today and I call up a landlord about a property that I saw sitting on a block. Long story short he owns the neighborhood and he is looking to liquidate these properties from his portfolio.

So af...

Gone through 2 divorces that wrecked my real estate portfolio.

These people are in charge of fixing minor things throughout the portfolio but the main job is to coordinate and manage sub contractors that we send out to some of the larger jobs.

Looking at all the good deals around and I need to build on my portfolio with some SFH's for residual income and hold for when the market gets back to full strength.

Greg it will depend on the portfolio of the bank and how many performing versus non - performing assets on the books.The bank might not want to refi that type of product with too much of that type of asset class non-performing on the books already.They might have too much defaulted commercial all together.For value add plays typically occupancy is an issue.The lenders will want certain occupancy levels obtained for at least 3 months depending on loan type and typically stabilized for 6 months to a year or longer.If you buy an apartment building at say 50% occupancy using a hard money lender or private money and the going vacancy rate is an average of 10% then the lender wants 90% occupancy averaged out over time.When you refi you will only be able to go up to a certain percentage to cash out or can just convert with no cash out to the lower interest rate.Regular banks do not lend usually on sub par occupancy levels for the area.They see it as too risky and the say 60% occupancy can quickly go to 30 or 40% and they have a foreclosure or short sale on their hands taking a loss,plus inspection reports,attorney fees,appraisal and environmental review etc.

Most of the big players in this market have large portfolios in many states.

You may have to seek out privtae money lenders (perhaps IRA owners) or perhaps find a local bank whom you will likely need to start doing business with and then request a portfolio loan where you can lump multiple properties into one loan package.Yes, you should be hunting for long term funding now rather than later.

Building up a nice portfolio but feel like I'm being nickel and dimed to death!

Also, I am looking for a credit union that does portfolio lending.