Need inside hacks

[Amanda Glendenning]

My husband and I have been in the STR business since 2013. We are now transitioning to long term rentals using primarily the BRRR method with our oldest son. I have read in a few places that we can only finance up to 10 properties. #1 is this true? If we have the 20% down does it really matter how many long term rentals we have we have financed? If it is true, what is the hack? Meaning, how do we get around this? Any advise or direction would be appreciated.

Thanks,

Amanda 

[Account Closed]

Quote from @Amanda Glendenning:

My husband and I have been in the STR business since 2013. We are now transitioning to long term rentals using primarily the BRRR method with our oldest son. I have read in a few places that we can only finance up to 10 properties. #1 is this true? If we have the 20% down does it really matter how many long term rentals we have we have financed? If it is true, what is the hack? Meaning, how do we get around this? Any advise or direction would be appreciated.
Thanks,Amanda 

What you are referring to is going to commercial lending. There are several ways to acquire properties without running into problems with banks. That's what we focus on. But, it takes knowledge and training and sources. It's a little too complicated to explain in a simple post, but yes, there are ways.

[Scott Wolf]

Quote from @Amanda Glendenning:

My husband and I have been in the STR business since 2013. We are now transitioning to long term rentals using primarily the BRRR method with our oldest son. I have read in a few places that we can only finance up to 10 properties. #1 is this true? If we have the 20% down does it really matter how many long term rentals we have we have financed? If it is true, what is the hack? Meaning, how do we get around this? Any advise or direction would be appreciated.

Thanks,

Amanda 

DSCR loans are a way around this. They are business purpose loans for real estate

[Alex Hunt]

Hi Amanda, 

For business' purpose loans there is no limit (DSCR, Fix & Flip). 20% down payment will open you up to alot of programs.

Feel free to send me a direct message. 

[Brittany Minocchi]

Yes, it's true. You're limited to 10 conventional mortgages. Once you hit that or get to a point where DTI is too high, many people switch to DSCR loans. You'll need at least 20% down for these as well. Big benefit is you don't need to prove income or employment and DTI is irrelevant. You can also close in an LLC. Happy to answer any questions if you'd like to connect!