Been using cash, time for financing...

[Andrea F.]

Hi All - been using cash to purchase properties, but now may have to turn to financing to acquire more properties this year. My goal is 3-4 more single family homes this year (rentals, and perhaps a flip if it's the right house).

This year I have purchased 4 houses in the Atlanta area, rehabbed, and rented (wrapping up the 4th soon). Paid $20-28k cash and put in $8-12K reno, renting for $800-900 month. I've felt comfortable starting out in this price range, but seems for financing that I will need to go up to $50k to get any kind of mortgage.

What direction would you take for financing? We have been talking to some folks about Homepath loans, but with alternative funding we could buy 2 properties for the total costs of going through the Homepath process, and also keep it in our LLC. I am trying to research commercial loans (my team could easily handle more than 3-4 homes if we got a larger amount of funding). Seems like blanket loans are for those already with mortgages, and portfolio loans are next to impossible. Any other way to finance several homes at once with one larger loan? Or a way to finance the $20-$30k individually? I'm still learning, and very welcome to input.

And if this helps with your answers, my partner/spouse have 780+ credit, full time jobs, and mortgaged personal home.

Thanks,
Andrea