Hi my name is Alex and I’m curious how many times you can cash out refinance on the homes you buy? For example if I bought 20 homes in a year and wanted to cash out refinance all of them after renovations is that doable? Or is there a limit with banks?
There are limits to how many conventional loans you can get (10) in addition to DTI regulations that make it difficult unless you have a really solid W2 (ore really good deals). That said - there are products for people to go above the 10 if you have DTI figured out.
@Alex Bernth of course! We have "in-house" loans with a few banks that they don't sell to Fannie and Freddie (which require the 10 loan max). This allows us to have more than 10 loans and finance as many properties as we can find.
Hope that helps!
That’s awesome to hear! That answers my question. Would those loans be at a low interest rate 3-4% like the typical banks mortgage loan?