Nevada portfolios are concentrated in two places: the Las Vegas Valley, where newer stucco tract homes dominate, and Reno-Sparks. Investors who own five or more rentals there can roll them into a single blanket loan with one payment.
In short: LendingStreet can put five or more Nevada rentals, each with 1 to 8 units, under one blanket DSCR loan that qualifies on total portfolio rent, with release provisions when you sell. In the Las Vegas Valley, HOA dues on many properties count in the payment, and Clark County's transfer tax and short-term rental limits are the local items to check first.
A blanket loan is a single DSCR mortgage secured by a group of rentals, at least five properties with 1 to 8 units each. You close once, make one payment and deal with one servicer, and the pricing reflects the portfolio as a whole.
Qualification runs on the debt service coverage ratio for the entire group: combined rent divided by the combined monthly payment, which includes taxes, insurance and any association dues. Standard programs look for 1.0x or better, and sub-1.0 programs exist for some files. LLC borrowers are standard and loans start at $150,000. Max LTV varies by program.
The Las Vegas Valley has one of the largest single-family rental markets in the West. Much of the housing in Henderson, Summerlin, North Las Vegas and the southwest valley was built from the 1990s on, so properties tend to be newer and similar, which makes a portfolio easier to appraise. Many sit in master-planned communities with HOA dues, and those dues count in each property's payment.
Reno and Sparks have a smaller, pricier market shaped by the University of Nevada and the employers along the Interstate 80 corridor east of town. Carson City and Fernley add lower-priced options. A blanket loan that holds both Las Vegas and Reno properties is common because many Nevada investors own in both metros.
This example is illustrative and not a quote. An investor owns five single-family homes across the Las Vegas Valley and a townhome in Reno. Together the six properties are worth about $2,415,000, rent for $13,600 a month and carry about $1,970 a month in taxes and insurance.
At 60% of combined value, the blanket loan is about $1,449,000. Estimated principal and interest on a 30-year schedule is about $10,132 a month, so the total monthly obligation is about $12,102 and the portfolio DSCR is about 1.12x, above the 1.0x standard minimum. On its own, the Reno townhome would carry an allocated balance of about $234,000 and a ratio of about 1.07x; inside the blanket, the stronger properties help carry it. The taxes-and-insurance figures above include HOA dues where a community has one, since those dues count in the payment.
| Property | Value | Monthly rent | Taxes + insurance / mo |
|---|---|---|---|
| Henderson SFR | $435,000 | $2,400 | $330 |
| North Las Vegas SFR | $375,000 | $2,150 | $290 |
| Southwest Las Vegas SFR | $410,000 | $2,300 | $310 |
| Summerlin SFR | $475,000 | $2,600 | $360 |
| East Las Vegas SFR | $330,000 | $1,950 | $260 |
| Reno townhome | $390,000 | $2,200 | $420 |
| Portfolio total | $2,415,000 | $13,600 | $1,970 |
Nevada charges a real property transfer tax on deeds, and the rate in Clark County is higher than in most of the state. It applies when you buy and when title moves, so ask your title company how it applies if you are deeding properties into an LLC before closing.
Nevada limits how fast property tax bills can rise each year, but the cap on rentals is higher than the cap on a primary residence, so a rental's bill can grow faster. Use the current bill for each property. Insurance is generally moderate compared with coastal states, though desert homes can carry their own items, such as solar panel leases, which show up on title and may need lender review.
Blanket loans include release provisions so you can sell or refinance one property without paying off the whole loan. Each property carries an allocated share of the balance, and the release price, set in your loan documents, is usually more than that share so the remaining loan stays well secured.
Before you sell, run the numbers on the properties that stay. Removing a strong performer can pull the remaining portfolio's ratio down, and release terms are written to protect the coverage on what is left. Our guide to the blanket loan release clause walks through how this is typically structured.
Short-term rentals in the Las Vegas area are tightly limited. The City of Las Vegas and unincorporated Clark County both restrict non-owner-occupied short-term rentals through licensing, spacing and zoning rules, so most Las Vegas portfolios should be underwritten on long-term leases. Reno and Washoe County have their own permit systems. If nightly income matters to a property, check with the city or county first.
Long-term rentals fall under Nevada's landlord and tenant statutes, which include a summary eviction process for nonpayment. There is no statewide rent control. Lease terms and rent rolls for each property feed directly into the blanket loan's sizing.
One blanket loan makes the most sense for a stable group of rentals you intend to keep, especially when a few of them would struggle to qualify alone. The combined coverage test, single closing and one servicer are the main advantages.
Individual DSCR loans can be better for properties you expect to sell soon, a property that needs its own cash-out, or a portfolio so spread out that one appraisal process would be slow. A split approach is common, and nothing stops you from keeping both kinds of loans.
Have these ready when you request a quote. To price a Nevada portfolio, use the form below or call (877) 298-1001.
Yes. LendingStreet finances blanket portfolio loans on non-owner-occupied investment property in Nevada, from $150,000 with no stated maximum. Our investor loans are business-purpose loans on non-owner-occupied property.
Yes. HOA dues are part of each property's monthly obligation, so they reduce the combined ratio. Many Las Vegas Valley homes are in master-planned communities with dues.
Usually not. Las Vegas and unincorporated Clark County tightly restrict non-owner-occupied short-term rentals, so most portfolios there qualify on long-term rents.
Five or more investment properties of 1 to 8 units each. Properties with 9 or more units are commercial and go through a different program.
Total monthly rent divided by the total monthly payment, including principal, interest, taxes, insurance and HOA dues. Standard programs want 1.0x or better.
Yes. LLC borrowers are standard. If properties sit in several LLCs, ask how the program handles multiple entities.
No stated maximum. Loans start at $150,000, and larger portfolios get more review and may have a lower max LTV.
No. The annual cap on tax increases is higher for rental property than for a primary residence. Use each property's current bill.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.