Financing multi families

[Shawn B.]

hi,

      I have some buy and hold rentals which are financed through banks with 20% down payment . And a big loan on primary residence.

Now I want to purchase a bigger rental  but not through private lending as the rates are very high. 

Last time I checked with my existing bank financing other rentals said they can't finance more as I already have few loans on existing.  How can I get it financed and what are options and conditions to purchase my next rentals ?

Any guidance much appreciated 

Thanks

Shaw

[Tyler Kastelberg]

@Shawn B. Some local banks have loan limits to individual borrowers. My best advice is to reach out to other local banks and see if they'll give you financing. If your personal financial situation is such that you are no longer able to guarantee debt (in the eyes of a bank), you'll need to find another investor to take recourse on the note. Depending on the size of the deal, so institutional investors will do this for a fee.

Hope this helps! DM me if you have any other questions.