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Updated almost 17 years ago on . Most recent reply
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Hello from Central, NJ
Hi everyone. My name's Peter Kandra. I've been monitoring the forums here for a few weeks now and find a world of info available. I've been purchasing SFR in the Trenton, NJ area for almost 3 years now. I currently have 11 so far. 8 are with a neighbor / partner and the others are just my wife and I. With the state of the mortgage market the way it is, I seem to have hit a plateau, and am unable to find financing for additional properties. All of my acquisitions to date have been with 90% LTV full-doc financing. As recently as several months ago, there were plenty of lenders who would cap an investor at 20 loans, now there's only a handful that will cut you off at 10. What's a investor in my position to do ? There's no shortage of good deals in my area...I can buy 5 houses tomorrow if I could get financing. Thanks for any advice you can offer.
Pete