Crown Point, IN · Member since 2020 · 8 posts · 0 votes
After I reach 4 properties that I have a mortgage with what is my next step to buying more? I have not reached 5+ unit properties yet so I’m not to the point of doing commercial.
Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
6y
Hey, @Kyle Green - don't assume you can only have 4 mortgages. There is REALLY inconsistent information out there on this topic. Some people say the individual limit is 5. Some say 10. Bottom line is to work with a lender who can help you maximize whatever THEIR limits are. Then start getting creative. Are you married? Put the titles in each of your names individually - don't hold them jointly. This is another way to max out the number of mortgages you can have between the two of you. Then start talking about small portfolio loans where you roll a few of the properties into one master loan product. There are definitely options out there. Work with a really smart lender who will work with you and understands investors. I highly recommend @Jason Wray with the Federal Savings Bank. I have no affiliation with him or the bank, but he's helping us with a refi currently and he has been fantastic to work with. Good luck!