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Updated about 5 years ago on . Most recent reply

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Patrick Ryan
  • Real Estate Agent
  • Minneapolis, MN
37
Votes |
52
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Need Financing Advise for 20 units under ownership

Patrick Ryan
  • Real Estate Agent
  • Minneapolis, MN
Posted

Hello! I was just denied a re fi by Quicken Loans because I own 20 properties. 

To those of you who own 10+ properties w loans, what are your options? I know I can go w more 5 yr ARM SBLs, but with the rates so low I would like to lock in on 30 yr fixed products. Is this possible?

What should I expect to pay in today’s market, with good credit and 30% down?

Most Popular Reply

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2,953
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4,475
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Alexander Felice
  • Guy with Great Hair
  • Austin, TX
4,475
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2,953
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Alexander Felice
  • Guy with Great Hair
  • Austin, TX
Replied

Fannie Mae rules don't allow you to get one of their products if you have 10 financed properties already. 

As Nate pointed out the video above is a great video on how to answer this problem. 

Also as stated above, you're done with single family homes. It's a diminishing return at this point, complexity goes up and efficiency goes down. 

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