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Updated over 9 years ago,
Looking for first Multi, what would you do in this scenario?
We currently have 4 single families, one with a mortgage and 3 clear but we're closing a HELOC on one of those this week so we can expand.
We want a multi family, but the HELOC won't allow a 100% purchase. My concern is how many mortgages is too many? We have our primary residence, one of the investment properties, and now a second investment property. Would adding a 4th first position be an issue to a bank?
Where should we start is I guess what I'm really asking!!! Thanks!