Private Lending vs Conventional

[Deidre W.]

Your current situation is.....

You have 1 rental working now. You are currently residing in your next rental at the moment which will go on market in 90 days as a 2nd rental.

Current equity for both homes is about $200k.

Ready to make the next move....

Do you use a PML or bank for your next purchase, or pull out equity to finance the next properties?

However, Im seeking more clarity with PML......wouldn't I first max out 10 conventional loans allowed for purchasing rather than PML? If I use PML now to then turn around transfer that loan so it's out of the PML's name back to a bank loan, aren't we essentially paying fees 2x? I've watched many videos on HML vs PML, so I understand the difference there.

As a painfully obvious new investor😉😉....I'm trying to understand benefits of PML and when the timing is best to use PML. To me it seems PML comes into play when the banks won't loan due to DTI ratio or simply because we're out of funds for down payment for the conventional bank route. Any recommendations that you have to help further my understanding through your insight as a seasoned REI, or readings or videos, etc. will be much appreciated.