want to know how to get financing on several properties, with 20% down. I have 200k cash and a pre approved loan for up to 350k. Instead of using all my cash on a couple of properties, I want to use my cash to leverage loans for several rental properties. How do I approach this effort?
Are you only looking for stuff in Florida?
Why not leverage as much as possibly with the best loans as possible. Do a 10% down FHA Owner Occupied for at least 6 months on one property that has potential cash flow or good appreciation/equity appreciation with fixing then decide from there where you want to continue your efforts. This will let you test the market in the area as you decide.
@Fabio Martinez If you are already "pre-approved", why should your Lender mind if you are putting your loan towards multiple properties instead of only one?
Maybe just go back to them to clarify?
I Like your idea! All the best...
I have spoken with them on multiple occasions, they are investor friendly.
That is definitely an option with some lenders to finance up to ten properties....... And some being less than $50k
Here is some info on financing. Guidelines get more strict once you reach 5 mortgages.