HOW TO BUY Multiple Properties at One Time. One Blanket or Portfolio Loan can be the Answer you Need

Video Closed Captioning:

oh

good morning good afternoon good evening

folks michael zuber one rinse on time

back with the man the myth the legend mr

steven dow how are you doing sir

i’m doing fantastic to yourself i’m

doing well do that mark anything so uh i

don’t get in trouble please

well i don’t think you will i think it’s

probably more me but long story short i

would feel bad for you

although i work very happily for

velocity words capital all the ideas and

topics discussed on this channel that of

my own so let’s get it going

yeah so what i want to talk about here

is sometimes thought of by new investors

as a unicorn right it’s one of those

things you see on bigger pockets or you

see on youtube university sometimes it’s

called a blanket loan i’ve also heard it

referred to as a portfolio loan but

basically it’s one single loan

against multiple properties

correct again just an example think

you’re buying in ohio and you’re buying

20 single-family homes that each cost 50

grand 60 yes whatever let’s do 60 grand

so you’re buying 20 homes uh for 20

times 60 112 so it’s 1.2 million dollars

right that’s the portfolio

most of you would look at that and go oh

my god i need 20 loans nobody’s going to

do that oh by the way the price point

means you’re not going to get a bank

because no dodd-frank’s not going to do

those loans

you might you probably think you’ve got

to go hard money which is going to suck

that’s going to be so expensive right

that’s where the non-qm place comes in

right you do

blanket or portfolio loans you could do

that deal

20 houses 60 keys it’s going to be time

consuming

you’re going to need 20 appraisals

you’re you’re yes there’s a lot of work

but if you are looking to buy portfolios

and again i’ve been very clear my goal

in 2022 is to buy someone’s portfolio

right i want to do one transaction

theoretically it could be a couple but i

would love to do one transaction

and just do whack i bought 20 units or

30 units

and um somebody like you could do that

where i couldn’t go to wells fargo or

bank they would they would throw up on

something like that

right

uh well again i think we’ve talked about

this a particular topic multiple times

on the channel but i think it’s just

good to also refresh you know current or

new uh viewers of that fact because i’ve

got a lot of those zones down we’ve done

uh uh quite a bit actually just due to

that fact because at certain price

points no one’s going to touch the loan

it’s almost like a car loan when you’re

talking about you know 60 50 000 or so

um but with us a minimum of each

property that’s going to be included in

the blanket or portfolio just needs to

be valued at 50 000 or more uh other

than that just has to be all in the same

state

i’ll have to be one to a four unit you

know not on a residential so you can

have uh duplex along with a single

family along with the triplex blanket

those all together

but it’s been very useful especially for

that fact because again

just too small of a price point to be

able to do by itself

um

not a lot of lenders want to do that

because it’s a lot of work for for less

money basically

but other than that yeah it

i think well at least for myself

personally i’ve seen a lot more recently

as far as people inquiring about blank

loans

i don’t know if just maybe there’s more

landlords are just done just want to get

rid of their portfolio i think i think

that’s exactly it i think i think if

you’re watching this channel one ritual

at a time and you’re in a situation

where you could farm for that

i think there are a bunch of landlords

that’s like

i’m done i’m not going through this

again right i’m going to take my chips

off the table

uh and i want and the beauty about those

landlords is they know i’ve talked i’ve

spoken with many of them they know they

could sell them off individually and

make more money

they’re willing to loot yeah i don’t

lose is the right word but take 50 60

70k total less for one transaction

right they will give you a deal to do

that

right because they can always make more

money they can’t make more time because

imagine that they’d have to individually

deal with you know each individual you

know buyer for each individual property

the each closing uh you know appraisers

that is just like really no they’re like

i want to go get on that cruise ship or

whatever i want to go to italy and you

know

whatever it is for them

uh right yeah i mean one of the better

deals i did was 14 units i think it was

a quad two tries

right and four houses i think that’s

i’ve actually got one of your uh

listeners working on a pretty large

portfolio now oh wow okay uh he’s

talking with the uh uh landlord now

i think they’ve come to a verbal

agreement

um it’s about 56 properties i don’t want

to give way too much location name stuff

like that because i don’t know if it’s

finalized yet but sure yeah so we would

have to group those again

oh well i was actually going to be

working on a 23 unit uh blanket but we

were going to break them up into um

groups of of five or six each uh just

that because

correct correct so and it still met

certain loan requirements to get the

best pricing and everything else but

then he was part of the you know in

between where rates were you know again

historical lows they made a move not

[Music]

we’re talking about available same thing

30-year fixed correct

30-year fixed money also on blank loans

also in commercial so

uh other than that you know the ease of

use

if you’re still you know or

obviously you always want to try your

shot at conventional financing if you

can because it’s going to give you the

best rates and best terms but in the

event that you don’t qualify or have hit

the limit with the maximum number of 10

or what have you give us a shot give us

a call because yeah at least it’s worth

a phone call to kind of compare and at

the very least i can keep everybody else

as far as anyone i’m competing against

for your business keeping them honest

because yeah if you just call one person

you never know if that’s the best deal

so at the very least you know that’s all

i can ask for as an opportunity give him

a shot yeah again he came through for me

uh i honestly was like really 30-year

money for this came through it’s in

there i like it so again how do you want

to reach out

s gao at velocitymortgage.com in the

subject line please just put in the

acronym o

o-r-a-a-t

the body email the property type um

address if you have it at the very least

city and state

uh general desired terms loan amount uh

things of that nature and then of course

your mid fico score and the best phone

number to reach back at and uh yeah

that’ll make things a lot quicker but

other than that looking forward to

working with you there you go and again

folks subject line just o-r-a-a-t

one rental at a time

please thank you very much for your week

it’s been a great deal i get nothing but

positive feedback man thank you for all

you do

yes and and also i want to reach uh say

it if if at all possible thank you for

everybody’s patience i know these last

couple of weeks have been really tough

we’ve got decimated with you know covid

and a lot of the uh operational staff

were just out and so there were times

when i wasn’t able to look at emails for

a long period of time so i apologize for

some of the delayed response but

everybody’s everyone’s been very

understanding so thank you very much for

that otherwise if you haven’t gotten

through for whatever reason you’re stuck

in please just try back again um again

maybe you got sick because you didn’t

put that in the subject line but i’m

trying to get you know to everybody but

it’s just an immense pile of emails to

go through so uh but again yeah if you

could just follow those instructions

typically i’ll be able to reply back

very cool man thanks i appreciate it

thanks mike

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