Credit Question

I will be closing on one rental property in a couple days.And 4 more in a month. I used a mortgaged lender for the first and the other 4 were a packaged deal and seller is helping me geta commercial loan. My question is Do need to stop using traditional
financing? Will my credit run out? Can I continue to buy houses using lenders as long as all of my properties are rented?

Comments(1)

  • 64Ford3rd October, 2004

    Yes, you can continue getting traditional financing. Your rentals will affect your credit score, though. Lenders will want to see a copy of your leases, and they give you about 70% credit of the lease amount. Therfore, you can see the importance of having a good cash flow on each of them.

    Good Luck!

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