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

[Matt Crow]

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!

[Aaron Chapman]

I regularly finance up to 10 properties with FNMA direct funding. Many banks limit their exposure to 4, but I spend a very long time in locating a firm that will allow me to fund 10 properties for 1 investor with standard conventional terms. We have had several that used a strategy to go beyond ten. One of our clients has 44 financed properties with a com0bination of FNMA and commercial financing to his S corp.

I would be happy to discuss your personal transaction if you would like to schedule some time to verbally connect.