Blanket mortgage for 5 condos in Florida. How can it work for me? Options?
I want to create an investment portfolio with 3-5 condos in central Florida, all to be rental units. Would a blanket mortgage be the right way to go? If not, what are my options in terms of financing a 30yr mortgage for them? Can I purchase 3-5 from different locations in the city? Would 25% down, good credit score, 1st and secondary active businesses making producing enough income to meet the overhead of perhaps any vacancies with the units suffice to finance the properties under a BLANKET Mortgage?
Any answers will help.
Thanks for the question. You can check around to compare lenders and also look at portfolio loans since they may be best suited for 5 or more properties.
Here are some articles on hard money loans, how to finance multiple properties, and portfolio loans that should help!