Loan for block of properties?

Financing, Hard Money Lenders, Private Money
1

I have been approached about the possibility of purchasing
a rather large block of single family homes (more than 50).
The numbers look very good so far as LTV but as I am new to
working with more than 1 property at a time, how does one
go about obtaining such a loan?

2

A blanket loan would enable you to purchase a group of properties similar to what you are seeking.

This will not allow for a high LTV allowance; expect to put between 25-30% into the deal to get it funded.

Regards,

Scott Miller

3

And if you use one mortgage to finance 50 houses, and want to sell one house, you will have to refinance the entire debt.

4

If you don’t have the cash to put into it to get funded what about wholesaling them individually or in blocks to other investors? Even if you can’t purchase them yourself you may be able to get a nice payday.