Financing for more than 4 loans

[Will F.]

Hi gang. So I was wondering where you seek loans if you already have 4 loans in your name?

Do you have to incorporate or put them in an LLC?

Is it just standard practice for conventional lenders to not give a loan if you have more than four loans? -this is even if we have around 4 owned with great equity and several fully paid for?

Would it make sense to refinance them into some sort of umbrella?

Thanks

[David Beard]

If you're having trouble finding a conventional lender for loans 5-10 in your local area, I think that citimortgage.com makes them nationwide. Just call the toll free number on their site. If you can find a lender, it's certainly worth it to get the 10 at super low long-term rates, and only then move to local bank portfolio lenders. Some folks with two strong-earning spouses even get them individually in each spouse's name in order to get even more than 10. Also, it's counted as "financed properties", using blanket loans does not change the count for this purpose.