I have heard that there are programs where you can finance a bunch of your mortgages (20+) to one company. That way, you will just have one mortgage payment a month rather than paying 20 different companies. Has anyone heard of this? Any info will be greatly appreciated.
I have heard of this, but haven’t seen it in practice too much. I think it’s a bad idea because if the mortgage is based on the collateral of 20 properties, what happens if you want to sell just one of them? You would probably either have to refinance the whole bunch into another blanket mortgage or individually. I’m curious if any of the other brokers out there have done one of these before???
There are lending programs which allow this to be structured inside say an LLC, however, it is not well received. There are many problems that can arise/hinder the relationship between the collateral and the bank or investors. Selling a property out of an LLC is not so much a big deal as trying to refinance one. You would be limited to those investors/lenders/banks which allow this program and they are far and few.