Financing More Properties

[Jonathan Depa]

Hi

I currently own two short-term rentals and I am looking to scale in the near future.  Both were financed with conventional mortgages. However, when I was getting my last mortgage, my lender told me he probably would only be able to 1 more at the most.  What are my options to finance more properties?  Are commercial loans an option?  

Down payments aren't a concern.  I have excellent credit, steady income and plenty of cash reserves.  Can somebody point me in the right direction of investor friendly lenders or possibly give me some input on how I could finance 5-7 more properties?  

[Steve Oswald]

@Jonathan Depa

Forgot to mention, that you can find local credit unions that will finance you regardless of the number of properties you have. They don't mind as long as the property is going to have good cash and your DCR (Debt Coverage Ratio) is above 1.25, because they typically fund them in house. This is also referred to as a portfolio loan.