How do people do this ?

General Real Estate Investing
1

I am quite new and would like to purchase a house, rent it for a year or so and then hopefully sell it and it appreciates a little more. I know that many that have multiple houses for rent, etc etc… how do you get the loans for so many homes at a time.

  1. Get an OD from several banks ? several mortgage loans? friends ? highly doubtful?

  2. I currently have some equity but not sufficient to have more than 1 home at a time… while I know of someone in my neighbourhood having 10+ more homes for rent?? how does one do that in terms of getting the loans to purchase multiple homes/ condos, etc.

Advise appreciated.

2

Once you have a 2-year history of renting you add that income to your income. There are also other programs if your credit score is high enough. You can do stated income no-doc loans.