All Forum Posts by: Karen Schimpf

Most investors utilize the Blanket Loan because the investor is capped by the conventional Fannie Mae guidelines. Fannie Mae has a limit of 10 properties and in many cases the lender will limit the number of investment properties to 4. Investors typically will put a minimum of 5+ properties into a blanket loan which allows the investor to go back out and purchase a new property with a Fannie Mae loan. When a Fannie Mae lender is looking at your credit, all they see is one investment loan that is not Fannie Mae.

@shital thankkar

The blanket loan program went away after 2008 but I am happy to say it is back. It gives investors the flexibility they need to buy more properties under the Fannie Mae.

@KevinYeats

Some lenders have a one time 20% substitution where you can sell a property and replace it with a like property. If you are planning on flipping deals or know you are going to sell a property in the future, it would be best not to include the property into the blanket loan.

@ Mike H

There are blanket loan programs that go up to 75% ltv and at rates you are talking about.

Thank you Peter.

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I agree with Marcia Maynard. Only rent if you are making a profit and have time to manage a business.

But if you do decide to rent your home, I recommend renting out each room versus the entire house. (Typically when you rent rooms out you furnish the kitchen and the living room) Renting rooms should make more than if you rented out the entire house...and should make a profit above the mortgage payment. Also if a renter decides not to pay you are only loosing money on that room versus the entire house.

Good Luck

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@Brandon Turner taught me how to guest blog.

I have many thoughts on this but I only have time to discuss one. You have heard the saying...location, location, location It applies to all types of properties whether it is commercial or a single family home. I liked to buy properties where there was demand. I'm not talking about demand like the growth that is going on in central Texas but demand like where your property is located. An example is having a property located near hospital. Hospitals always will need workers whether the economy is doing well or poorly. But if your property is located near a big company for example like Dell, IBM, HP etc. and the economy tanks, well than your property has a potential of loosing a renter and it's value.