Buy in cash or payoff and finance?

[Lloyaal Thomas]

Greetings BP,

I’m currently looking to purchase another investment property at 65k. But I have 4 properties mortgaged with the lowest balance being 25k. Every bank that I’ve talked to will not allow a 5th mortgage. I can buy the property 65k in cask OR pay off the 25k property and put down 25% on the 65k property to fnance. Any suggestions? Thanks

[Kyle J.]

Keep calling banks.  Try a portfolio lender.  Many banks have a four loan limit (some even less), but that is just that bank's policy (also called an "overlay").  You just need to find one that will do more (like ten).