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Updated about 7 years ago on . Most recent reply

User Stats

132
Posts
61
Votes
Johnoson Crutchfield
  • Rental Property Investor
  • Tupelo, MS
61
Votes |
132
Posts

how many local loans and how much interest to pay

Johnoson Crutchfield
  • Rental Property Investor
  • Tupelo, MS
Posted

So I'm having some success and it's hard to decide what to do next.  I'm having some success buying older properties, fixing them up, and refinancing them through local community banks.  I just finished number two this year.  So now I'm thinking I can do 10 this year if the bank will allow it.  Does anybody know how many local community banks will do? Also, my initial capital I'm working with is about 50k borrowed at 25% interest and so far I haven't paid it back I just keep using it to invest in the next property.  I know that's expensive money but is it so bad if I have 10 properties at the end of the year all cash flowing?  Really am looking for your advice.

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