What is a Blanket Mortgage? Why would you need it?
Blanket mortgages and so on if you are a real estate investor you may want to consider a blanket mortgage that can actually help you save a lot of money on less hassle-free transaction Austin Texas has had a bunch of apartment complexes with all of those loans and we’ve actually consolidated all of those loans and given him a blanket mortgage with a low interest rate and a boost to his cap rate If you have a portfolio of properties that have a portfolio of properties, they may have high rental rates or private property. Balanket mortgages are the most expensive properties that they have invested in.
The three apartment complexes that are located in Austin Texas are the right one to have. One year balloon loan purchased with these properties and long term financing because of the long term financing. Take the money or the bridge down to the property but then you have to convert
Long-term financing is a good option when it comes to financing, but it’s a good idea to buy a slot and get ready to get the kids off the ground. long term financing 13% on this one he owes four hundred thousand he has a seven Plex that he eleven percent interest cos 360 – and he has a four-plex he own fourteen percent he owes 287 so these rates are double-digit They’re crazy they’ve made the time to do that but now we’ve got to look at a longer term strategy so that we can look at the refinancing bundle of what a blanket means. All these properties are just a gonna give you a syndicated loan for what you did and what you look for. a million dollars and the properties are worth about 2.2 So this is what we did for him and you see his interest rate blended about 12 percent 12 and a half percent so his current situation is a million and a half percent rate blended okay so what do we do this before and after The value was 2.2 million kept at $ 2.2 million before the 1 million balance at 12% interest rate.
We did it for a 30-year amortization ten-year fixed five-point fixed rate of eight to five per cent. Half of the money is going to be out of the box, and four to four thousand in cash. know you’re i With a 30-year amortization, the lower interest rate is about 12% more than you would like to have at some point in time. Four hundred grand in cash and back in the four hundred grand in cash.
Doors of 180 K in a million in debt, and twelve percent blended in, you know, 120 K and an interest in the money is not really what I am after. I mean, it’s basically a no-brainer to cut back on his interest and take out a huge amount of cash. but he got fou r Hundred K Back and His Interest Expense went to 94 K Right So He Enhanced His Cap Rate By About Two Per cent Right And Then He Cleared One Thousand In Cash Now With Just More Gonna Go and Buy More Properties Probably another thirty forty doors with this money if he does it the right way and then he just refinanced the balance then he would have had a cap rate much higher at Wow yeah so if his interest expense.
He would have financed the million only about a fifty-eight K and interest expense so he would have quadrupled his cap rate to ten percent so now he’d have a twenty-two percent cap rate. Math You Real Estate Investing I am trying to make it as simple as possible for you guys to see what it is that is really great about you. ‘re saying is how you are Take something and buy a property with hard money and then you convert it to a long term financing using a blanket mortgage or a long term structure.
Investor Blanket Mortgage Refinance
Blanket mortgages for great opportunity If you have a bunch of rental properties, you can actually buy a blanket mortgage consolidate and list down all those mortgages. My investors and Florida had 19 rental properties worth 4 million dollars and he had 16 mortgages on them. Why do we consolidate all these mortgages into one mortgage right and let’s get some cash and buy some more properties with the opportunity that a blanket mortgage guys do? He has a mortgage with a low interest rate and then he has taken out half a million dollars in cash and then bought six more rental properties so I don’t know if you guys are out there and you know yo You can actually do a blanket mortgage if you have a real estate investor and you have a bunch of properties that you can quit and all those different mortgages.
If you own a REO and you’re managing your clients’ assets, you may want to a blanket mortgage. Apartment complexes you want to buy more apartment properties you want to buy more rental properties that you can actually buy with a blanket mortgage it’s a commercial loan.
What is a Blanket Loan and who can benifit?
Definition of a loan or bug mortgage is a type of loan that can be used to buy and sell more than one piece of real property. This is the type of service from a homeowner who wants to buy a property before owning a property with an example of an appraised value of $ 200,000 on a mortgage balance. Price is 400,000 on a blanket loan lenders own up to eighty percent of the appraised value of the current home and the purchase price of the new home so if it’s 200,000 for your current home appraised value and 400,000 for your new home purchase price A six hundred thousand total value lenders can afford a loan of eighty per cent which would be four hundred and eighty thousand dollars. balance you can buy your new home with no money down but if you are owed a hundred thousand the total loan amount is 480,000 which is what you can afford so if you can get your new home purchase price and you owe it a hundred thousand on your payoff then you would need a total amount of $ 500,000 you would have brought in $ 20,000 to make up the difference and hope you have learned a little something about pikelet loans and the way few lenders offer.