Exhaust my conventional mortgage loans first then do hard lending

[Kevin Lanphear]

After I close on my first rental property in late Jan 2021 and fill it with a tenant/lease agreement, I will have about $70k cash left to play with to buy more properties. However, I want to do all my homework and seek all the options out there to not hit a roadblock down the road for financing upcoming investment properties.

Do I continue using my normal (20% downpayment requirement) Fannie/Freddie backed conventional mortgage loans with the banks first and then when I cant qualify for more conventional bank loans, do I need to start seeking private hard money lenders?

Remember, I do have $70k cash available to use and I dont want to hit a wall where I can no longer buy more properties.

[Kevin Polite]

You can buy up to 10 properties before you exhaust. Maybe not from the same bank. Remember you need keep reserves for emergencies and most banks require 3-6 months reserved per property when financing.