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Thursday, 30 October 2014 05:00

5 Tactics to Score the Best Deal on Your Next Rental Property Loan

Tactics for Best Deal on Rental Property Loans

close the dealAs rental property financing becomes more accessible for real estate investors more and more are seeking out new acquisitions and are looking to refinance investment property to maximize returns. However, there can be distinct differences in the terms different investors are able to obtain.

 

Here are five tips to consider to enable investors to land the best possible deal on their next rental property loan

1. Keep a Good Paper Trail

Maintaining good records and a documented paper trail can go a long way to proving the profitability of a rental property and demonstrating its reliability in producing income.

2. A Great Executive Summary

Most commercial mortgage lenders are going to want to see an executive summary first. Based on what they see here they will determine whether to pass on your request or fast-track it to approval. If you aren’t sure what makes a great executive summary recruit some help in formulating one.

3. Know Your Timeline and VIPs

How long will you hold this property? Which factors are most important to you in a new rental property loan? Know your VIPs so that you can negotiate the best combination of costs, terms, early payoff penalties, and investment property mortgage rates for your personal strategy.

4. Non-Recourse Loans

Non-recourse loans provide serious benefits when it comes to reducing liability. Ask if they are available.

5. Consolidate Rental Property Loans

Consider using a blanket mortgage to consolidate current income property loans to improve property management, increase net income, and negotiate better terms on your next loan.

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Rental Home Financing
9465 Counselors Way
Suite #200,
Indianapolis, IN 46240

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Rental Home Financing originates commercial blanket loans with a commercial purpose and is not currently authorized to make such loans in all areas of the United States. Specific circumstances will determine whether we have the ability approve/close portfolio rental home loans in your state(s). 

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