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Updated over 7 years ago,
Financing for 100 SFHs in Chicago
My goal is to move from 20 to 100 SFH, buy and hold, cash flow properties in Chicago. The portfolio will consist primarily of SFHs because I prefer the neighborhoods, tenants and stability of such in comparison to multi-units.
However, financing is much more difficult because I cannot carry 100 mortgages on personal credit (cap of 10) and options are limited for corporate and commercial loans on SFRs. I have not been able to identify any local banks as of yet. The only national company so far that fits this bill is B2R now Finance America who I am already working with (Ridge only makes personal loans).
Does anyone have suggestions? I'd also like to hear about strategies for building large SFH portfolios.