Conventional Financing Question

[Colin Dickinson]

Hey Team -

If I were to purchase 10 rental properties in my name, and my wife were to purchase 10 in her name, does that circumvent the general rule of no more than 10 conventional loans? I recognize there are other creative financing methods, but let's pretend we stick straight conventional. 

Looking to make another purchase (conventional) and my wife and I were just discussing that possible strategy.

[Alvin Sylvain]

Originally posted by @Colin Dickinson:

Hey Team -

If I were to purchase 10 rental properties in my name, and my wife were to purchase 10 in her name, does that circumvent the general rule of no more than 10 conventional loans? I recognize there are other creative financing methods, but let's pretend we stick straight conventional. 

Looking to make another purchase (conventional) and my wife and I were just discussing that possible strategy.

I am no legal expert in this area, but my expectation is that it would only work if you and your wife were legally separated. Otherwise, for all intents and purposes, the two of you are only one entity.
I suggest you seek legal advice before you try it, although I also expect the only penalty is the lender will laugh at you when you attempt to buy the second 10.

 However, I also think you're thinking way too far out. Concentrate on getting your first 10. You're asking about burns from air friction from running too fast, but you still haven't conquered walking.

Another thing I just thought of -- also consider, 10 loans doesn't necessarily mean 10 doors. You can get 3 loans on 3 separate 4-plexes, and there's 12 doors right there.