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Updated about 9 years ago, 09/14/2015

User Stats

25
Posts
1
Votes
Matt Crow
  • Investor
  • New Boston, NH
1
Votes |
25
Posts

Looking for first Multi, what would you do in this scenario?

Matt Crow
  • Investor
  • New Boston, NH
Posted

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!

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