Who can cash out on 15 properties?
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