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Updated over 4 years ago on . Most recent reply

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David Boroughes
  • Rental Property Investor
  • Newport, RI
48
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72
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Scaling up. Have too many mortgages, what to do?

David Boroughes
  • Rental Property Investor
  • Newport, RI
Posted

I have several conventional mortgages on rental properties I own. I'd like to keep buying, but the banks are saying too many mortgages and debt to income doesn't look good (they go off tax returns, not leases for income). I heard it mentioned on here before, but not sure if this is possible. Could I portfolio some of these mortgages into one loan and thus open up the ability to qualify for additional conventional mortgages somehow? Maybe the portfolio loan is for an llc that owns the properties, or something to that effect. Any advise on how to scale up at this level would be appreciated. Thank you,

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6,163
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5,125
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,125
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6,163
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied

@David Boroughes - buy the new properties in a LLC using a commercial loan

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