How can I have more than 10 mortgages at one time?

Both Fannie Mae and Freddie Mac will only allow one person to have 10 mortgages at a time, so how would I be able to purchase more real estate investment properties if I can only have 10 mortgages on my credit at any given time?How can I have more than 10 mortgages at one time?
You just need a portfolio lender. That's all. A portfolio lender is a lender that keeps your loan in house, (portfolio's it), instead of selling it on the secondary market to fannie or freddie. Most banks have both a portfolio side and a conforming side (fannie mae/ freddie mac). Here in Florida, both Suntrust and Wachovia have nice portfolio sides. The rates are a little higher, but you don't have to play a ';shell game';, by placing properties into someone else's name. Besides, the rates are typically only .25-.5% higher anyway, so it's not bad at all. If you need help, feel free to contact us by going to our link and one of our associates will help you.





Good luck.How can I have more than 10 mortgages at one time?
Financing More Than 10 Properties





There are several ways for you to continue investing in Real Estate. Here are several options





1. Buy Home Outright


2. Get money from non-Fannie/Freddie Lenders


3. Buy homes with loan over $417,000


4. Buy multi residence properties (5 units or More)


5. Trade some properties in a 1031 exchange


6. Buy business property


7. Play the Shell Game





Most are self explanatory





1031 Exchange allows you to defer capital gains on an investment property as you exchange/Sell it for a more valuable property.





The Shell Game - Using the Shell Game you fully leverage some of your properties so you can own other free and clear. Depending on where the property is located you may be able to leverage up to 95% of its value. While this effect the cah flow on the one unit you have increase cash flow on the other and gained the ability to get an additiona mortgage.
You have 4 options.





1) Put the loan(s) in some one elses name. (Family, good friend etc.)


2) Find a portfolio lender (meaning they lend their own money and are not subject to Fannie Mae nor Freddie Mac)


3) Find a source of private money where a person or persons is literally loaning their own money. Here again, they will not be subject to Fannie Mae or Freddie Mac. Note: try and find a portfolio lender first a portyfolio lender will usually offer you a lower interest rate.


4) Put your the property in the name of a business or trust. Here again a portfolio lender or a private money lender may let you do this.
Look for a bank that will do in house financing. And there are lenders that do non conforming loans in this situation. Suntrust will do a loan like this. I have done many with them and in house for a few of my clients in your situation. The rate will be higher to do this type of loan.
Well, if you are financing them, then they are not investments. Do you borrow money to put into your 401(k)?





Buy some outright!!