Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

User Stats

15
Posts
4
Votes
Elva S.
  • Bedford, TX
4
Votes |
15
Posts

What if maxing out 10 Mortgages?

Elva S.
  • Bedford, TX
Posted

Hi BP!

I have a quick question to ask about Finance. We are almost at the point that we will reach the 10th conventional mortgage. Please give me a few names of the local banks, union credits etc that you would recommend in Dallas/FT Worth areas, preferably in Mid Cities. If you are able to let me know what the terms look like that will be very helpful!

Thank you very much!

Elva

Most Popular Reply

User Stats

9,934
Posts
10,788
Votes
Chris Mason
  • Lender
  • California
10,788
Votes |
9,934
Posts
Chris Mason
  • Lender
  • California
ModeratorReplied

Hi @elva s.,

Before needing to go portfolio/commercial, you can usually squeeze a bit of life out of your cap of 10 with a few tricks...

1) 10 in husband's name alone, 10 in wife's name alone. Great, now we're at 20.

2) Shove debt around. Let's say you have a $600k property that you owe $200k on, and a $100k property that you owe $75k on. Cash out refinance the $600k property to pay off the $100k property, so the debt of both properties is under a single roof. We just reduced the number of financed properties by 1. I've done them where you do a batch refinance to, say, shove all the debt of six properties into 3 properties.

  • Chris Mason
  • Loading replies...