Milwaukee Rental Portfolio
StackSource recently arranged a refinancing package for a portfolio of single family rental homes in Milwaukee, Wisconsin. The sponsor, a resident of California, built this portfolio of rental homes over the past few years adding substantial capital improvements and increasing his overall equity. Many lenders throughout the Midwest, and especially through and after the covid pandemic, will not lend to out-of-state sponsors. StackSource Capital Advisor Freddy Johnson was able to secure a loan at 3.65% fixed (5 yr treasury + 285 basis points fixed upon close) for 5 years with a 25 year amortization for the portfolio of 27 doors. The owner was able to fully pay down his current mortgage and cash out for over $350,000. Freddy is looking forward to working with the investor as he expands his investment portfolio outside his home state of California.