All Forum Posts by: Tim Bodnar

I could but that would still put me at around 40-45% DTI not sure if it will be enough to obtain traditional financing

I am under contract to sell one of my rentals which I need to 1031 exchange into a property for over 700K. The problem I am having is that most my properties are vacation rentals and despite the fact that they all generate at least double of what a normal rental does for me traditional lenders will not give me a loan.  The standard Fannie and Freddie guidelines won't count many of my rentals because most have less than 2 years of income and some have less than 1 and none have leases because they are less than 30 days. This brings my debt to income ratio to about 45%. So despite showing good income in the past and having bookings for months I can't get a loan by traditional methods and most hard money loans want to charge me over 10% and lock it in. Does anyone know of a possible solution? 

Unfortunately the properties I have already are located in 5 different states so getting a portfolio loan will probably be very difficult. 

Hi guys, I am looking into investment property lenders that work in UT, CA, GA, SC, FL, and TX.   as I currently am nearing the 10 loan max on Traditional mortgages and the normal firms I work with won't exceed that.  I have done one private loan and it was a nightmare has anyone else had better luck or strategies when you are at the 10 property limit.