Have 4 properties, how to get 5-10?
My husband and I have purchased 3 properties (2 single family and a duplex) in the last 3 months. We also own our primary residence- for a total of 4 properties. All in my name currently as I have W2 income and he doesn't at the moment.
All purchased with conventional financing, 20% down, 30 year mortgages. All mortgages less than $55k (aside from primary residence).
What's next? Are there lenders out there who will loan on properties 5-10 at conventional rates?
We have 3/4 units rented currently but obviously since we just purchased not a long rental income history yet. Still have enough cash reserves to cover expenses on all properties for over 6 months and we really want to buy another- ideally another duplex.
Thoughts on where to go from here ?
Most Popular Reply
Joanna Gossett Find a solid mortgage broker who understands lending for real estate investing. Fannie Mae allows you to have up to 10 conventional mortgages. A broker should know which of their lenders deal well with investors and will lend up to ten mortgages.