Martin Lyster,  in Los Angeles, CA

Where can I find financing to cashout multiple rental properties with no current mortgage at 70-75% LTV?

Asked by Martin Lyster, Los Angeles, CA Sat Feb 14, 2009

I am looking for a 70-75% LTV loan to cash out 5 (or more) residential rental properties which have no mortgage. I need an interest rate of 10% or less for the properties to cashflow. Where can I find such financing?

Help the community by answering this question:


Martin, I would suggest you contact Wells Fargo as Wells Fargo is a nationwide lender and will be able to provide you with some guidance. Cash out refinances are fading away if not already faded. I am going to suggest Kathy Terry to you. Kathy is a top producing Wells Fargo loan officer. Although she lives here in Georgia she does loans across the country because Wells Fargo is nationwide. She is currently helping my clients who just moved to LA. She is really great at what she does!

Her information is below:

Kathy Terry
Home Mortgage Consultant
Wells Fargo Home Mortgage
770-497-6018 Direct
866-676-1044 Fax
404-285-3699 Cell\kathy-terry
Web Reference:
1 vote Thank Flag Link Sat Feb 14, 2009

Best advice on this one is for you (or your client) to understand how the current Fannie Mae guidelines might apply to your scenario(s). Once you have a firm grasp on that, the pricing part of the equation should be fairly straightforward.

I'm here in CA, would be happy to be of service and can offer such insight as mentioned above.

Thank you,

Rob Spinosa
0 votes Thank Flag Link Mon Feb 16, 2009
Through one of several brokers on this board, such as me.

I am a mortgage broker. If I can be of service, please let me know!

Martin Smith

Precision Funding
877-238-6324 Ext 704
877-238-6324 FAX
0 votes Thank Flag Link Sun Feb 15, 2009
Hi Martin,

I have an excellent contact at George Smith Partners in Los Angeles that would be able to help you. Just send me an email if you want his info.

Good Luck,

Mark Fitzpatrick
0 votes Thank Flag Link Sat Feb 14, 2009
I know a Broker who specializes in Multi-Family units and is highly recommended amongst several commercial brokers in L.A.

Feel free to contact me if your interested in working with him...
0 votes Thank Flag Link Sat Feb 14, 2009
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