I was told by the bank you can only have 4 mortgages.

[James Mamangun]

Hello guys. Newbie here. The bank says I can only have 4 mortgages. Does this mean I can only have 4 rental properties? How can I have more than 4 properties? Do I form an LLC?

[Ann Bellamy]

"You can only have 4 residential mortgages with them" would be the more accurate statement.

Although they are few and far between, look for banks who will allow more than 4 residential mortgages. Try small local banks and credit unions.

Second, talk to the commercial lending department, not the residential people. You'll find a whole different world of lending.