After three or four mortgages...

[Travis Dutro]

Hello everyone,

Rarely will I ask a question without researching heavily to find an answer, and I have looked but maybe I’ve missed it..

Say I have 3 houses rented out plus my primary and all have a bank mortgage. Now I realized you basically can’t get any more mortgages due to debt to income. But what if you buy a house with hard money and then in a year when that’s due you finance it through a bank since you already own it? Is there a difference between getting a mortgage on a house that you don’t have already vs getting a mortgage on a house that’s already in your possession? If it’s already in your possession will they give you financing even if you already have four mortgages? If not, then what are most doing after their year is up with hard money for a buy and hold?

Thanks in advance!!

[CJ M.]

@Travis Dutro

My recommendation is don't get so caught up in conventional vs non conventional loans.

If you have a great deal, and the numbers work with a non-conventional loan now, go for it! If you wait to jump through all the conventional loan hoops, it could be too late and you'll miss out on the deal.

For context, I have 2 conventional loans, and am about to have 17 non conventional ones.