Additional rental property acquisition/financing

[Ron Smith]

Good afternoon,

My name is Ron and I live in Memphis, TN. I am a relatively new real estate investor who is looking to gradually build my portfolio by investing in good appreciating zip codes in the Memphis area. My wife and I currently occupy one home, our primary residence, and have three other properties that are all rentals. Each of our four mortgages are approximately four years old, and they are all 30 year fixed mortgages with interest rates averaging just under 4 percent. We have approximately 100k equity in each of the homes for a total of 400k equity.

Does anybody have any recommendations for me in terms of how to acquire more rental properties? I am being told by different lenders that I am not able to carry more than 4 mortgages right now because of the Covid pandemic. Would it be a good idea for me to get some cash out of these rentals and refinance? As a newbie, I am just looking for solutions and suggestions to acquire more properties. I appreciate all help and suggestions.

Ron

[Rick Corbett Jr.]

Ron, have you ever thought of Creative Financing? Like Seller Financing or Subject To? Great options, they take little to no money down and even better returns! I believe there is an opportunity to grow your portfolio in your market with little competition and get deals no one else can do. Let's talk. Thanks, Rick