All Forum Posts by: Lisa Green

We also have more than 10 loans, but we were able to refinance the ones owned by Fannie Mae through DU Refi Plus. This was strictly a rate-and-term refi - no cash out - but the terms were comparable to what you're looking for. Several of our loans were not owned by Fannie Mae, and we were not able to refinance those.

After that, we went with option #3 and found a local portfolio lender. The terms aren't as favorable, but at least we can get new loans. This lender is offering 15-year fixed at 5.875% for up to 80% LTV. The 15-year amortization is tough on cash flow, but equity will build quickly. The rate is high in today's market, but it's fixed - and a few years in, it may look like a real bargain. Cash out is no problem, small loans are fine, and seasoning isn't an issue. We are working with this lender to acquire new properties, not to refinance existing ones.

When we started investing in the early 2000s, there was no 10-loan limit. I'm hoping those days will come again, and we can refinance more properties then.

Hello everyone! I have been lurking on this awesome site for a while and finally decided to take a moment to sign up.

My name is Lisa Green. My husband and I have been buy-and-hold investors for about 10 years, and we currently have 16 single-family rentals in Middle Tennessee. We both have day jobs unrelated to real estate.

We'd like to at least double our real estate holdings and are talking about whether to continue with more SFRs or start looking at multifamily. Financing is of course an issue - we had accumulated more than 10 mortgages before the limit even existed. Our three most recent purchases have been cash, but that's a slow way to grow. I've been talking to lenders this week, trying to learn more about our options.

I'm looking forward to learning from all of you and welcome any suggestions you may have. For those who have been in a similar situation to ours - what was your next step?