What should I do if I have used my FHA loans on 10 homes that I currently own? I would like to keep using the BRRR method if at all possible, but don't want to lose the ability to refinance in to an FHA loan product. Any advice or guidance would be greatly appreciated.
Congrats on getting to 10 homes Account Closed! That's a great achievement! If you have used your own personal ten, you have to look at other financing options. Have you spoken with a commercial lender yet? Any banks who are doing portfolio loans? Have you explored private financing at all yet?
Primary financing or get creative. If you can't do it as a primary, start calling local banks. You have the knowledge, convince a bank that they need your business.
Start speaking to local banks and commercial lenders Account Closed
Account Closed -- A portfolio product would be a great option to lump all properties into one loan and free up your 10-finance cap on FHA/ fannie/ freddie.
Can I ask, why are you currently financing with FHA as opposed to conventional financing? If it's a credit score issue, you may run into some problems getting a portfolio deal going. if it was simply for lower down payments, but now you have some equity built, this may work, so long as they are cash-flowing between all of them combined.
Great! Congrats on finding your way forward. Best,
Congratulations on your creativity and a big step forward! @Account Closed