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Private Lending & Conventional Mortgage Advice

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David H.
  • Real Estate Investor
  • Harvey, LA
80
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119
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Who can cash out on 15 properties?

David H.
  • Real Estate Investor
  • Harvey, LA
Posted Jan 10 2015, 16:38

I called my mortgage loan officer yesterday to discuss lending options for my many properties in LA.  I'm looking to grow my business, and I wanted to borrow using my rental homes as collateral.  I have zero debt.

She said for the SFR properties, bank policy is limited to 4. She didn't do multi-family, but said I could potentially go to a commercial bank.

I know someone on BP has tried this before.  What's my best bet if I want efficient access to capital to acquire more foreclosed properties?  Should I just finance new acquisitions as purchase?  Or should I lever existing home that are unlevered and buy new homes with "cash."

David

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