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Updated almost 8 years ago,
Taking out multiple loans/mortgages
Hi all, I'm new to the REI business and have many questions. One is my thought on mortgages and how they work. My goal is to start off by buying a rental property (duplex) and house hack it, it needs updated interior only. I would continue to own the property after my family and I move out of it and keep it as cash flow. My question is since I am not wealthy enough to pay cash for the property I would be using a loan. How many loans/mortgages can an individual take out to purchase other properties? Is there a limit or a restricting factor to the possibility? I look forward to the expert advice BP has to offer! Thank you all