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Updated over 1 year ago,
Is there a limit to the number of properties one can refinance?
Heys guys,
quick question. is their a limit to the amount of multifamily properties you can refinance with the bank?
Say you get a private lender for 100k then you buy a duplex for 75k (hypothetically) and put 25k into it and it appraises to 155k. You can now refinance up to 70% with the bank and pay back your private lender the 100k (plus interest). Then you keep the cash flowing property using the tenants to pay the refinanced loan with the bank.
- My question is this, is there a certain number of properties you can refinance with the bank? like if the deals are all working could you do this strategy forever or eventually will the bank not allow you to refinance anymore properties ?
Thanks for any help!