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Updated over 7 years ago,

User Stats

20
Posts
7
Votes
Anne Laurenzi
Pro Member
  • Wholesaler
  • Pensacola, FL
7
Votes |
20
Posts

How should I finance a 10 rental property purchase deal.

Anne Laurenzi
Pro Member
  • Wholesaler
  • Pensacola, FL
Posted

A friend of mine has a landlord that is wanting to retire and move away from the area. He owns 10 different rental properties and wants to sell them eventually. I haven't talked to the man or even looked at the properties yet but it's in the works. My question(s) are;

How would I go about financing 10 properties at once? Obviously a normal mortgage for all 10 won't work. 

Is my best option to find a bank that does portfolio lending? How likely are they going to loan to someone without other investments or collateral. I don't have any other properties yet, just my personal home. I have a good paying job, a good credit score, and a modest bit of savings. 

Is there a creative way to come up with the down payment(s) or a way to purchase without down payments?

Thanks in advance, 

Mike

  • Anne Laurenzi
  • Loading replies...