Bank Question
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I am new with 5 rental properties acquired in the first 10 months.
Concern:
My lender will only only me to buy 10 properties....but there is a bigger problem!!! I need to be able to buy more than one house at a time. The last time I tried to buy a house that need repairs my lender told me that I had to wait until the repairs where done and the loan paid off or refinanced. Are there some lenders that will allow me to have more than one construction/repair loan>??
Thanks
The likely issue on the 10 properties is that Fannie May and Freddie Mac has placed that requirement on conforming loans. Your lender probably sells off the loans that they generate.
There are lenders that make non-conforming loans which can take you beyond 10 loans.