All Forum Posts by: Aaron Barber

Jonathan, 

I have always used conventional loans on my houses. I have 5 SFH's , one is my primary residence. One is paid off. I am being told that I can't get another conventional loan for another rental. Is the limit the same for all lenders? If so, after that limit what do most investors revert to? What is the most cost effective way to get another loan if i want to buy another property. My credit is 800 and I have enough to put 20-30% down if I need to.

Thanks!

Yes they have a dumb name. Its anything but short. Even though I offered full price on one after 2 months I backed out because it was still pending....

You can hold it until you die. Only you will know when to sell. It depends on a lot of factors.

Im at 70%

It will list your rental for free on zillow, trulia and hotpads. You can also use it to do applications and backround checks

Your mortgage company is trying to rip you off... You don't need to change anything. You can keep the current loan if you want and rent it out. The VA isn't going to care or ask as long as you keep paying the bill. You have already satisfied your requirement of using it as your primary residence.

I just retired myself, bought 4 houses while active duty and I never changed loans when I got orders. Still have all of them, 3 are rentals.

But, rates are low. You could apply for an Interest Rate Reduction Refinancing Loan or IRRRL if the numbers make sense for you.

Thanks Dennis M. Great system. Loads of help

Thanks for all the info. And thanks for the thanks... I enjoyed my time in the military but definitely glad Im done.

I was wanting to stay local so I could manage the properties myself but I dont mind investing out of state. I have a house in TX and SC. 

I would just need to learn more about the process.

Mike, interesting.

Never thought of doing it that way but thanks for the details. Very interesting.