Financing over 10 properties

[Dustin Thoms]

Hi, this past year has been busy for me.  I sold my rental in AZ and through a 1031 put the proceeds in two properties in Orlando (financed 75% and 50%).  I then purchased a rental 100% cash Independence MO.  Then two places around Huntsville AL.  Today I signed for one more rental in Casselberry FL.  I do have one place in Huntsville I’ll close on in May (will give great recommendations to @Caroline Davis in the Huntsville market).  All said I will have 8 mortgaged properties.  I plan on refinancing my place in MO so I can pull out cash.  With all of that I will have 9 financed properties (my primary house is another (will be paid off in four years)).  My question is, I hear Fannie May only will let one finance 10 houses.  How are others financing for more properties?

[Melvin List]

@Dustin Thoms also try a broker in the state you are looking to purchase or refinance.  There are tons of lenders out there that will go over 10 properties.