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Private Lending & Conventional Mortgage Advice

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Aamir Shah
  • Rental Property Investor
  • Irvine, CA
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35
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What to do past 10 properties

Aamir Shah
  • Rental Property Investor
  • Irvine, CA
Posted Sep 27 2020, 23:02

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!

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