All Forum Posts by: Account Closed

Yes The idea is to refi them into an s corp or LLC in order to free up slots to continue to buy w traditional Fannie loans and clean up my portfolio. I can't even get a primary loan through Fannie only FHA.
So only mortgages in an S-Corp would accomplish this?

Thanks for all help!

I currently own 13 single family properties in Columbus Ohio recently appraised at 1.1 million. I have just under 500 K in mortgages. I have exhausted the yellow pages and am searching for this product. Fannie Mae guidelines page 223 say that whatever properties are deeded and mortgaged to an S-Corp are exempt from 10 property limit. However, there are no mentionings of the deed and mortgage in the name of an LLC?
Has anyone done this to circumvent the ten property rule?
I found one lender will do this with over 1 million in mortgages but that's it.
High 600s credit
110K day job
All properties cash flow 400-600 monthly with solid track record.