Investor · Manassas, VA · Member since 2015 · 9 posts · 2 votes
Hello BP,
My name is Kevin and I am a recent subscriber to the BP site. I have been investing in homes for around 6 years, I currently have 4 SFR and have mortgages on 3 of them. I would like to be able to increase the number of houses I have, however every bank I have checked with limits you to 3 investment home mortgages.
Reading through some of the blogs I have seen people that 10 plus homes, that I assume all have mortgages, and I am curious what the process is for doing that.
I have found some information about B2R and First Key that have something called a portfolio loan. I was hoping that someone could explain how they worked.
Rental Property Investor · Tulsa, OK · Member since 2014 · 241 posts · 187 votes
11y
Smaller local banks will loan out of their own resources. They will allow a significant amount of homes to be financed individually. Eventually, they will more than likely want to turn your (10 or 20) homes into a line of credit of some sort. So I would go meet every local bank and discuss your strategy and situation. I am sure you will find a banker that sees the value of the proposition and plan and want to get on board with you! Good luck!