After property 10

9 Replies

I've found a lender in Massachusetts that loans on property #5-10. That's the limit.

Does anyone know a lender that lends after #10?

After that, you have to go to commercial lenders, or other lenders that keep the loans on their books and don't sell on the open market. If your spouse works and is lendable, you can double up with loans in their name. Then, it's off to institutional lenders, owner carry, subject to etc.

Congrats on getting to 10.

I think you will have to look into private money for that.

"Congrats on getting to 10."

Working on #2, but already thinking about #10 

The guy behind investfourmore.com said he found a lender that did portfolio loans without limit. Just wondering if one was based in MA. 

I'm wondering where to look for my 5th. Bank of America just told me they couldn't do any more for me since I have 4.

Originally posted by @Amber Stevens :

I'm wondering where to look for my 5th. Bank of America just told me they couldn't do any more for me since I have 4.

 For me, it was a local savings bank. Spend a Saturday afternoon hitting up 3-4 of them near you. 

Originally posted by @Alex Silang :
Originally posted by @Amber Stevens:

I'm wondering where to look for my 5th. Bank of America just told me they couldn't do any more for me since I have 4.

 For me, it was a local savings bank. Spend a Saturday afternoon hitting up 3-4 of them near you. 

 I have been eyeing a few and need to do this.  Thanks for the reminder.

You can start a whole new 10 properties with a portfolio lender. They'll usually lend up to 10 properties with them. Then you move on to another who'll do the same. Then once you have a big enough pool, you can refinance into a commercial pool loan under a corporate entity and start all over again.

after 10 check out First Key Lending.  They will do packages or properties or single properties.  

5-10 should be easy to find if you avoid big banks.  Guild Mortgage is the company I have used for properties 5-10.  They go as far as looking at who's name is on the note so I have 10 and my wife has 10 for a total of 20.  We just don't co-sign on each others loan to so we can get that flexibility.

I used a commercial loan though a local bank (easthampton savings bank) for my first property.  I did a commercial loan for a couple reasons but I got turned on to it and this bank by my realtor who is also an investor, he had around 10 properties at the time. I agree with others, check local savings banks.  Congrats on #10!