10 in my name, 10 in spouse's

[Martin Silverstrim]

Buying my first rental property in the next month or two. Planning on putting the mortgage in my name. If all goes well, we'll purchase another in my name in another 8-12 months and be on our way. After 5-10, we'll start putting them in her name. We do plan on doing LLCs. Anyone see My issues with this?

Definitely planning on 4 properties. We'll see about more, but want to leave the door open on the finance side. Have a good plan in place, I think.

[Hart Pearson]

We are on this track too. My wife has 7 and I have 6 Conventional mortgages. Doing two more BRRR's as we speak. As far as Fannie rules go (with no lender overlays) It is 10 loans per person. They will use 75% of your rental amount as income. The real reason I'm posting this reply is to highlight this... 75% of your rental amount should AT LEAST wipe out the PITI on that property on a good rental and Improve your DTI with each rental. Not add little bits of debt with every property. If not then you'll never cover maintenance, CAPEX, and management. BTW... Fannie will also let you use an appraisers estimated rental value as income on your application when financing a new purchase! Some lenders don't like to, or require sufficient experience, but Fannie is OK with it. So think... appraiser estimates $1500 per month rental rate, PITI is $1000, your DTI is actually improved because of your application, not weighed down! Can't beat it!