Maxing out at 10 loans, what to do next
It looks like I will hit my 10 loan limit in the next few months with 3 new deals I just started.
My initial plan was to pay off my smallest mortgage 70K by doing some equity stripping/refinance of 2 other investment properties in Houston and Indy that have appreciated. However, my lender tells me I cannot do that once I'm beyond 4 loans.
I just maxed out on my HELOC which was my favorite way to borrow.
I'm wondering what the best next steps are to buying more properties?
#1 Pay down HELOC quickly and re-use
#2 Pay down my smallest mortgage at 70K and free up 1 loan
#3 Start accumulating cash to buy properties with ALL Cash (that would restrict me to cheaper properties in rougher neighborhoods that I personally do not like)
#4 Portfolio lending with a smaller bank
#5 Private money (not right for me since I do only buy/hold with turnkey providers). I wish I could do BRRR method but too time consuming to do it out of state/longdistance.
#6 take money from 401K (borrow up to 50K). I cannot convert into self-directed at this point.
#7 Chill out for a few years and see what the market does. Another recession in 2016, 2017? Pay down mortgage debt, free up another loan, optimize my portfolio/cut expenses, accumulate cash.