What to do past 10 properties
I have finally acquired 10 rentals. Hooray! Now I'm stuck. All rentals are out of state in MI. I am from CA. The 10 rentals are fannie mae loans. I want to keep buying more rentals, but am stuck on financing. Called/emailed many MI banks, none support out of state investors. For those who have passed 10, whats is your strategy? Options I have explored:
* Refinance all 10 rentals into portfolio and restart, I have gotten fairly high quotes of around 7% interest. Would be high closing costs.
* I found a national lender who is offering 8% interest on single family loans.
Any other options?
Thank you!