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Updated almost 9 years ago, 02/26/2016
Financing multiple properties in a short amount of time
So I have yet to own a property but have a personal goal of either buying and holding a cash flow rental property by year's end. I just need to get that credit score up a little more. I'm about there
Anyway, I am a veteran and I make a decent middle class salary at my full time job. I don't plan to use the VA loan for my first buy but that's another topic. I only bring this up to give you a little insight as to where I am, where I want to be, and how you can help me get there by providing your knowledge in your answer.
What I want to know is, after listening to a podcast with Bill Allen who had only been investing for a few years and now owns five rentals, how does a person finance five properties? Can you take multiple home loans out at a time? Is it the ability to show loan providers the other properties are being paid down? Does owning investment properties change a person's ability to gain multiple loans as compared to a person buying for residential purposes?