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Updated almost 7 years ago on . Most recent reply

User Stats

23
Posts
1
Votes
David Pearson
  • Investor
  • Shreveport, LA
1
Votes |
23
Posts

Personal rentals reaching 10. Then what?

David Pearson
  • Investor
  • Shreveport, LA
Posted
If someone could help with this please? I am reaching my 10 rental houses in my personal name. The banks tell me that once I reach 10 that’s it. What happens now? How can I continue to invest? I would figure that I could transfer them into a LLC, which I am not afraid of doing especially for the protection. No need to comment on Hey the due on sell clause as I am fully aware of this. If I do transfer these houses into a LLC would instill be able to purchase homes in my personal name and continue buying 30 yr mortgages. The banker says that they would still count the ones in my LLC. Need some help on this matter thanks!!!

Most Popular Reply

User Stats

434
Posts
494
Votes
Jason G.
#5 Ask About A Real Estate Company Contributor
  • Rental Property Investor
  • Long Island, NY
494
Votes |
434
Posts
Jason G.
#5 Ask About A Real Estate Company Contributor
  • Rental Property Investor
  • Long Island, NY
Replied
if portfolio loans make your numbers not work on deals you can always pay off one mortgage and then take out another.
  • Jason G.
  • Loading replies...