All Forum Posts by: Jason Atkins

John I couldn't have said it better myself thank you so much

Stephen your correct I do plan on using the rent to pay the loc. I would have ten loc open at once

no I am not looking forward to it. I'm just looking at it from a banks point of view. It's like I'm hiding a mortgage. I'm trying to come up with a way to buy ten houses in 5 years and spend no money. Creative ideas are what I'm looking for

thanks for the quick replies! The line of credit I would take out on the newly accuired property would not be paid off so to say but on paper it is because I have the title and the bank doesn't know I used the first line of credit to purchase a home. They have no idea what the money was used for. Say you did this to buy ten houses and defaulted on the first loc. it would have a domino effect on all other properties. The bank would be screwed. If I understand this right.

hello all! my question is as follows.....I bought a rental property 8 years ago and it is paid off. I pulled a line of credit from it to purchase another property. That property is technicaly paid for in cash and I have the title. can I pull another line of credit from that property to buy another one and so on down the line? my goal is to buy two properties per year for ten years. how else could I do this?