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Updated over 17 years ago,
Where to get financing for multiple properties
First I would like to thank everyone for all of the great information they have put on this website. It is by far the best one I have visited. I also apologize if this is not the right thread for this question.
I'll run down my plan to help you understand exactly what I am looking for as far as financing goes. Myself and two others are looking into buying rental properties. We have found quite a few in the 20k to 35k price range that are bring in anywhere from 250-350 net each month and most have leases in place. The plan is to buy as many of these units as possible (ideally around 100 over the next two years.) We have experience in owning rental properties, but nothing to this magnitude so we are looking to build up to that number and not purchase all at once. This is where the problem comes in. We have dealt with Countrywide (the reason for Country wide is that we get 10% down and 6.85% on a 30yr) in the past but they informed me that their policy is 4 loans per person bottom-line. Is there a way to get financing similar to this for the number of properties we are trying to get? I am not sure if we could get the 4 from Countrywide, another 4 from BofA, another 4 from Wells Fargo etc. or if we need to start a LLC and find a different route for financing. Any suggestion would be greatly appreciated!