I have 6 rentals and trying to just more but banks and all say no, because of the number of loans on my

Kali71
Other/Just Looking
23508

credit. Is there any way I can buy moe rentals. Besides, prices on home now are great.

Answers (4)
Cindi Hagley, W...
Broker
San Ramon, CA

Some financial institutions offer umbrella loans. I believe Merrill Lynch is one of them.

Sun Jun 28 2009, 20:42
Drew Hitt
Real Estate Pro
Virginia Beach, VA

You can still have up to 10 FHA loans, you just have to start putting down chunks of cash.

Be more creative, I buy and sell houses and never get a mortgage. There are other options, you just have to explore them!

Drew

Sun Jun 28 2009, 19:15
Vicki Woody, Re...
Agent
23517

Hi Kali,

I believe it is 4 properties that investors are limited to these days.

Vicki Woody
Accredited Buyer Representative
Long & Foster
757-685-3842
vicki@vickiwoody.com

Sun Jun 28 2009, 19:11
Fred Griffin
Broker
Florida
FIRST ANSWER

Greetings from Florida.

Banks are shying away from investment properties, as you well know.

Try finding private money, or venture capital.

Put together a package of properties, and present it to friends and associates who are looking for
a good return on their money. If you own six rentals now, then you most likely know how to
work the numbers, and how to get the rent needed to generate cash flow, etc.

If you can show a tangible ROI, private investors may want to work with you.

Of course they will want their names on a Mortgage, and possibly on the Deed,
so be sure to get a CPA and a Real Estate Attorney to cover the paperwork.

Best wishes,
Fred
---------

Sun Jun 28 2009, 19:00

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