4+ loans in Michigan, purchase strategy

[Robert M.]

Hello -

I own 4 properties, 3 of them are rentals in the suburbs of Detroit. My strategy thus far has been buying houses with cash, fixing them up, rent for long term, then eventually put a loan on the property - pulling out 75%. However, the banks I've dealt with only provides a max of 4 mortgages.

I guess my question is - what is a better/quicker strategy for acquiring properties? A couple years ago when I acquired my houses cash was king, so I was able to outbid with lower overall cost. I have enough cash to buy a property outright, which allows for some leverage. But, is this a good idea?

Also - what type of banks in Michigan allows for more than 4 mortgages? I see that the cap is 10 but bigger banks stop at 4.

I guess I am interested in some advice. I want to acquire a property sooner rather than later.