As the financial markets melt down will there be anyone left to invest? Or better yet, are there any lenders available to finance investment properties?
I received this email today from a client and I feel that is important for a couple of reason, both which we will get to later.
Hi Troy,
I was wondering if you could find Jason and me a loan for a rental. We currently have 7 rental properties and have been told 4 is the new limit. Is there any way around this?
Kim
My reply:
Kim,
I do have at least two lenders that still allow borrowers to finance more than 4 properties. These particular banks do not have a limit to the number of properties owned individuals, just have to be able to qualify. Here is a brief overview of the guidelines:
75% Loan to value
6.75% 30 year fixed interest rate
1% prepayment charged if paid off in first […]
Original post by Troy Schuricht and software by Elliott Back
Real Estate Flipping Lease With Option