The Sarasota area built thousands of new homes over the past decade, from North Port's grid of single-family lots to Lakewood Ranch's planned villages. Many investors bought several of them, plus a duplex or two in older Sarasota and Bradenton neighborhoods. A blanket loan puts that whole group under one loan with one payment, and in Florida it can also simplify the insurance and tax paperwork that comes with each property.
In short: LendingStreet offers blanket portfolio loans for Sarasota-area investors who own five or more rentals of 1 to 8 units each across Sarasota and Manatee counties and beyond. The loan is qualified on combined rent against combined payment, taxes, insurance and HOA dues, with one closing, one payment and release provisions when you sell a property. In this market, insurance and non-homestead property taxes are the costs that decide how much a portfolio can borrow.
Typical borrowers are investors who bought new construction in North Port, Venice and Parrish over the past several years, out-of-state investors who built a Gulf Coast portfolio remotely, and long-time local landlords with duplexes in Sarasota and Bradenton.
Their goals are usually practical. Common ones are consolidating several loans into one, pulling equity from properties that have appreciated since purchase, replacing short-term loans used to buy or repair homes after the 2024 storms, and simplifying management before adding more doors.
North Port is the region's largest source of newer single-family rentals, with homes on standard lots that lease to families and workers commuting along I-75. Venice Gardens, South Venice and the Jacaranda corridor add older homes and duplexes. In the city of Sarasota, Gillespie Park, Newtown, Kensington Park and Sarasota Springs have duplexes and smaller homes with strong rent relative to price.
In Manatee County, Bradenton, Palmetto and Parrish offer lower prices per door, while Lakewood Ranch townhomes and villas draw higher rents with HOA and community district costs. A mix usually balances the portfolio DSCR.
Florida property insurance has been through several difficult years, and premiums vary widely by roof age, construction, distance from the coast and flood zone. A 2019 North Port home with a new roof may insure for a fraction of a 1970s duplex in a flood zone a few miles closer to the Gulf.
In a blanket loan, every property's wind, flood and liability premiums go into the portfolio total. Some investors find that one or two older coastal properties drag the whole portfolio below 1.0x, and keep those on separate loans. Collect quotes for each property before sizing the loan.
Investment properties do not receive Florida's homestead exemption or its tight assessment cap. Non-homestead property has its own cap on annual increases for non-school taxes, but values reset when a property sells, so recently purchased rentals carry higher tax bills than long-held ones.
Many newer communities, including parts of Lakewood Ranch and other planned developments, include community development district or special assessments on the tax bill, and North Port bills some non-ad valorem assessments too. Those count as taxes in the DSCR.
This example is illustrative and not a quote. An investor refinances six rentals in Sarasota and Manatee counties into one blanket loan. Tax figures include special assessments, and insurance is budgeted at $330 a month per property on average. The Lakewood Ranch townhome's HOA dues are paid by the tenant under its lease, so they are left out here.
At 70% of combined value the DSCR would be about 0.92x, and at 65% about 0.96x. At 60%, a blanket loan of $1,596,000 has estimated principal and interest of about $10,888, and the total with taxes and insurance is about $16,509. Against combined rent of $16,800, the portfolio DSCR is about 1.02x. Lower insurance on newer homes is what lets this portfolio clear 1.0x.
| Property | Value | Monthly rent | Annual taxes |
|---|---|---|---|
| North Port single-family (2019) | $365,000 | $2,250 | $6,100 |
| North Port single-family | $340,000 | $2,150 | $5,700 |
| Venice Gardens duplex | $520,000 | $3,400 | $8,200 |
| Bradenton single-family | $395,000 | $2,400 | $6,300 |
| Gillespie Park duplex, Sarasota | $610,000 | $3,900 | $9,600 |
| Lakewood Ranch townhome | $430,000 | $2,700 | $7,800 |
| Total | $2,660,000 | $16,800 | $43,700 |
Release provisions let you sell one property and remove it from the loan by paying a set release amount, while the rest of the portfolio stays in place. The amount is written into the loan documents and varies by program. Plan releases with the remaining portfolio in mind; selling the newest, cheapest-to-insure homes can weaken what is left.
Florida charges documentary stamp tax on new mortgage notes and an intangible tax on new mortgages, both based on the loan amount. On a blanket refinance those are paid once, on the single new loan, alongside title and recording costs.
A blanket loan suits owners who plan to hold most of the portfolio and want one payment and one maturity. Separate DSCR loans can make more sense for coastal properties with high insurance or homes you expect to sell soon.
Out-of-state owners often find the single loan especially useful. One servicer, one escrow for taxes and insurance and one annual review is easier to manage from a distance than six separate loans with six renewal calendars.
Send a property schedule with addresses, unit counts, leases, current loan balances, tax bills including assessments, insurance declarations, flood zones and HOA dues. Note any storm damage and repairs, and include the wind mitigation report for each property if you have one. Call (877) 298-1001 or use the form below to start.
Five or more investment properties, each with 1 to 8 units.
Yes, and on some programs properties in more than one state can be included. Each property is underwritten on its own leases, taxes and insurance before the totals are combined.
Every property's wind, flood and liability premiums go into the portfolio DSCR. Older coastal homes can pull the ratio down.
Yes. Community district and special assessments on the tax bill are counted with property taxes. They are common in newer planned communities, so check the full tax bill rather than just the millage.
The standard minimum is 1.0x. Sub-1.0 programs exist for some borrowers.
Yes. Release provisions let you sell a property and pay down the loan by the release amount set at closing.
Yes. Documentary stamp tax on the note and intangible tax on the mortgage apply to new Florida loans.
No. The portfolio qualifies on rent. LLC borrowers are standard, and you sign for the loan personally.
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