How to get over 3 private private mortgages.
Currently I have 2 private mortgages in my name and looking to add a 3rd at the beginning of the year. Once we have the 3rd conventional mortgage in place I’m guessing I wi start running into some problems with traditional banks.
Our vision beyond the 3 mortgages is to acquire 3-5 duplex - four-plex properties for long term buy & hold strategy. I will be using private money to fund the deal and my own money for the rehab. My question is, when I go to do the refinance in 6-12 months will I still be able to get traditional financing if I have 25% equity or what type of loan/bank should I be looking for at that point? I’m guessing they still cap out at a certain amount of loans in personal name even if you have the proper equity?
Thanks in advance!