Can anyone answer these questions?

General Real Estate Investing
1
  1. What’s the maxium houses that a lender will allow one person to buy?
  2. What about a LLC? how many houses can a LLC buy?
  3. Where does a LLC need to go to get a loan?
    4.What’s the best option for you to go with if you’re wanting to buy more then 10 houses?
2

Tony,
the max per lender varies by lender. buying with an llc put the loans into the commercial bracket which means higher rates and often more paperwork. mnay investors will buy as an individual and then transfer title sfter close to a land trust (living revocable trust) designating the llc as benificary.

best best option to buy 10 houses (in my humble opinion) is to go to a mortgage broker that works with various lenders and can spread out the loans if needed to more than 1 lender. i have purchased many single family portfolios this way. I would advise that you really do your homework on getting a great mortgage broker to help you.

good luck!
Lance

3

Thankyou so much for being extremely formative, I really appriciate you sharing your knowledge with me, are you tutoring new beginer investor?

4

Tonya,
We actually have a lender that will do up to 19 financed properties and we have one lender that is unlimited.
You need to work with a lender who knows investment property rules really well.
Ramona

5

Just for the record, I do not believe WAMU has a cap on the number of homes they will finance. They also permit titles to be recorded in LLC’s which all lenders do not as long as the mortg product is a portfolio product. Ah, yeah… I work for WAMU.

6

10 per Fannie Mae or Freddie Macs underwriting guidelines.

BUT

other nonconforming lenders may allow up to 10 depending on LTV and which core investors they are selling their loans to. So if you have enough moolah, and I have say 5 lenders after Fannie or Freddie, well then,… 50 maybe 60 properties is a possiblity. That would keep you busy. I’ve done it.

Also, there are a handfull of lenders that will do unlimited amount owned if your credit score is high enough…

Don’t forget, the lenders will more than likely want to make sure you have enough reserves, usually 6 months PITI in order to lend on each transaction.