First Purchase

3 Replies

Hello everyone,

My husband and I are looking to purchase our first property, actually looking to buy 3 deals under 75K each our first time out. My question is how do we go about financing 3 deals at once? We have enough to put the down payment and reserves on these properties. Do lenders finance multiple properties at once?

Please help,

Newbie Ebony

You can Finance upto 5 to 10 properties at once.

In February 2009, Fannie Mae said it would up the maximum financed-property limit from four to ten to help stabilize the U.S. housing market.

"Experienced investors play a key role in the housing recovery", it said.

This is a truth.

Real estate investors buy foreclosed homes, multi-unit properties, and vacant condos as a means to build wealth long-term.

And now, with rents out-gaining the rise in home prices in U.S. cities such as San Francisco, California; Fort Worth, Texas; and Seattle, Washington, investor types are clamoring for good homes -- especially with financing so cheap.

15-year mortgage rates with points are below 3 percent.

Despite market options, though, investors can find it hard to find banks which offer financing for people with more than 4 properties already financed.

Even seven years later, Fannie Mae's 5-10 Properties Financed program remains a niche product.

Maybe you've been turned away by your bank, too.

I believe if it is 4 units on one property then it would be a blanket loan which falls under commercial loan. other wise it would be 4 separate loans for 4 separate properties. Don't quote me but I believe that's correct. hope it helps.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here