On the Mortgage Grapevine, the poster says he represents a firm that owns 150 non-owner-occupied single-family properties that need to be refinanced. Furthermore, it sells 150 properties per month to its students, and these also need financing.
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“Our biggest hurdles to date are with trying to find sources for the small-balance loans and financing more than four properties,” according to the post.
The borrower is looking for a loan or loans for properties valued at $7.5 million, with $3.5 million in Michigan.
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