Buying Multi-units Properties
Can an investor buy 20 properties ( 60 - 200 units per) a year if he is capable?
What do the lenders say about this? Im sure that its public information of your ownership of multi properties. Does a person have to disclose how many properties he owns?
What should a investor watch out for if he is going to buy many properties during a 1- 2 year plan?
Thanks...
I am a mortgage person in the chicago Illinois area.
I know that on the residential side of lending that some lenders do restrict their borrowers to ownership of a certain amount of properties. A typical amount is like 7. There are others who do not have such restrictions. On the commercial side, it is probably about the same. There should be enough commercial lenders out there without such restrictions.
Also some lenders restrict how many properties you can own in a certain geographical zone.
I would not be very concerned about this, just ask the question to what ever lenders you are considering..so that it does not become a last minute deal breaker.
If you have anymore questions about mortgages, do not private message me--just ask your question right here.