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Updated about 6 years ago,
How many deals can I do?
I have searched the forums and have not found an answer to something that is bugging me and I am curious about something that I keep getting warned about...
Situation / Context:
I currently own 12 rentals (& lease options) with another under contract and a fix & flip under contract as well. I am fully set up and prepared to start buying a house a month to either, flip, rent or do an lease option. I am buying the houses for cash, doing any necessary repairs on them, then doing a cash out finance with a lender prior to renting or lease optioning. I am working with a lender thought the whole process on flips.
Problem:
I keep getting warned by others that I am going to run into some sort of saturation point with my lender and they are eventually going to tell me that I own too many houses and they cannot do any more. I have asked my lender about this more than once, and he keeps telling me that this won't happen as long as it is a good deal, they will be on board. Due to the overwhelming advice from others and from books I have read, I tend to think my lender is ... well, I don't think he is lying, but ... I think he is not telling me the whole truth.
Question:
1. Will I definitively hit this wall?
2. If so, what can I do now to start planning in advance a way around this?
3. Any other advice pertaining to this would be much appreciated.
Thank you in advance...