How to go about purchasing my 5th property?

[Sarah Taegder]

Hi, I have had to be a creative investor to get where I am since I do not have a lot of cash, but I now own 4 properties. I made my most recent purchase which was a foreclosure that had water damage. By being a loyal bigger pockets subscriber, I had heard about a loan program that worked with the house I wanted. I knew it had good bones and I even stole the house from a cash buyer. I bought the house for $120,000 and put $30,000 into it with the loan I used. Before I even closed and did the work, my house had appraised for $230,000. I knew I had to buy it for the equity and my gut was right. I have now been bitten by the real estate bug and want to buy my 5th house, however I am not sure how to go about it. I think I will get approved for another loan. Between my 4 properties, I can only get about $64,000 in equity. There are some great rentals that I could pick up for $50,000. Should I combine my mortgage to pull the equity out and become a cash buyer or take out another mortgage? Does anyone have any suggestions?

[Nathan Click]

@Sarah Taegder - you should be able to get the financing you need for a 5th property if you go commercial rather than residential.  Debt to income becomes a non issue.  you will simply need 25% cash to put down which it seems like you have that in equity and a good enough FICO score.  Feel free to reach out to me with any other questions.