I have an investor in Louisiana w/700 scores who has 45 rental propeties he wants to cash out refi. They are all SFR, total appraised value approximately $3,150,000. He owes about $600,000 and wants about $600,000 cash out. LTV would be approximately 40%. Customer wants ONE NOTE. Anyone know of any investors who will do all 45 of these properties on one mortgage?
I work with a lot of RE investors, you may want to suggest that he not blanket all the properties under one note. That could cause him some problems in the future if he decides to sell some of the properties. He only really needs to use enough properties to meet the LTV requirement of the lender. I’d give Washington Mutual a try.
hello yes but we need more details, kindly provide the following first then we can help
1.name or names of borrowers
2.social security nos of all boroowers
3. status in usa (resident alien or permanenet resident)
4. need copies of #3 as proof
5. business taxes or financials for last three years
6. what kind of investment properties are these e.g rentals or any other type
7. 40% ltv is no problem
but we need to have above 6 items on us before we go ahed regards