Anyway to finance multiple properties at a time?

[Gabe G.]

I have a normal average job, and currently have 2 rentals that cash flow well. I would like to accumulate 10 rentals in the Indiana area. Doing this the conventional way could take a long time to achieve my goals. Is there any lenders or options out there, to say get a loan for 4 properties at a time or something similar?

Just wondering if anyone has been in a similar situation.

Thanks!

[Shawn Holsapple]

@Gabe G. I have had some success with purchasing the asset first with cash [private lender, LOC, etc] as @Franklin Romine mentioned and then refi once I have control and have clean up the property so it will appriase more. Most local small State Banks and Credit Unions will do this. This gives you an opportunity to refi or pull out the equity instead of just covering the purchase price minus the 25% down payment.

Most banks will give you a non-secure LOC when you have a W2 job. I know [back when I had a J.O.B.] PNC started me off at $10k & I've know worked that up to the max of $25k by using it once every few weeks and then putting it back in to build a history. Then after about 6 months ask for more. Rinse, repeat. You can also just get a LOC on the paid off property but I've found this to be harder than just doing the refi.

Once you own 4 or more like this, you can then approach a lender for a "blanket" commercial loan to pay off all the assets and put them under one loan.