Thomas-

We allow more than 4 properties financed but you have to be purchasing your primary residence for that to be allowed - not an investment or second home. I'm not sure if that is your situation or not, but I can help you if it's your primary.

Luke Allison
Bank of America Home Loans
828-777-8828
luke.allison@bankofamerica.com

I wouldn't say its a law, but Fannie Mae and Freddie Mac loans only allow you to have 4 financed. One way around this is to manipulate the current debt to reduce the number of mortgages to only 3. You can do that if you have equity in the current properties.

An easier solution would be to look toward a portfolio lender that does not have those restrictions because they do not sell their loans to Fannie or Freddie.

There are a few options there that would probably make some sense, but I would need to know more about your situation and occupancy of those current properties owned.

If you would like to discuss, i would be glad to get you more details.

Andrew Kashella
AKASHELLA@TLTLOANS.COM
727-331-8405

Hi Thomas,

You can obtain financing from many venues. You may not be able to obtain institutional financing. You can certainly look for seller financed properties. You can look for private money lenders. I am not talking about expensive loans. For example if you know someone that has $100k in a CD earning 2% then you might approach them and say, I pay more.....I will offer you 4% interest rate on your $100k. I hope this helps. Here is a resource for you to find a real estate investment club in your area that might help. Also you can ask realtors in your area if any properties are seller financed! Good luck
http://www.reiclub.com

I might add...this rule applies to 'conforming' loans; you may want to seek financing advice from a local, independent financial institution that portfolios (keeps in house, rather than selling on the secondary market) their loans. If you are a good strong buyer, they will want your business and be eager to build a long term relationship. As that relationship builds and you 'prove yourself', they'll be willing to offer you more and more freedom and creativity in obtaining financing through them.

Kim

Disclaimer: I am a licensed real estate broker and property/casualty insurance agent in the State of Ohio, providing information and sharing experiences acquired over 15 years in the industries. I do not profess to be qualified to give advice in any other field, though will share opinions and information obtained during my course of work. It is always highly recommended that consumers seek counsel from a specialist in each area in which there is a question or concern.

four properties FINANCED will stop you from getting financing on a fifth one. Are all of your current props financed or are any owned "free and clear?" http://www.ronbeebe.com