Rental Portfolio Financing – Detroit, MI
When it comes to funding real estate investments, Lima One Capital has two major goals: ensuring each client has the best possible customer experience and working with each investor to tailor our loan products to meet their needs.
In this deal, a Michigan-based investor approached Lima One about refinancing his 11-property portfolio. This investor wanted to do a cash-out refinance on his single-family rental homes in the Detroit area.
Lima One was able to help this investor get the cash he needed to expand his portfolio while also helping him to refinance at record-low interest rates.
Rental Portfolio Loan By the Numbers
- Purpose of the Loan: Cash-out Refinance
- 11-property portfolio
- Loan Amount: $870K
- ARV: $1.33M
- Loan to ARV: 74%
- Loan Term: 30 years