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Updated almost 11 years ago on . Most recent reply

Account Closed
  • Real Estate Investor
  • boston, NH
32
Votes |
401
Posts

10 different loans

Account Closed
  • Real Estate Investor
  • boston, NH
Posted

can i can multiple loans from 10 different banks if i have no income?

if i wanted to get a house to flip that was worth 100k could i go to 11 different banks and get a loan for 10k?

currently i have no income because i am in college. but i am wondering where i stand and if this is possible.

Most Popular Reply

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348
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127
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Jacob A.
  • Investor
  • Raleigh, NC
127
Votes |
348
Posts
Jacob A.
  • Investor
  • Raleigh, NC
Replied

Assuming you can even find a loan for a flip from a bank, that bank will want first loan position. Once you start taking out multiple loans you can no longer offer first position on the loans. Good thinking, but highly unlikely.

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