I see so many potentially good cash flow properties in my area ($150-$300) and I wonder what stops people from purchasing all they can. Has anyone reached a roadblock where you own multiple positive cash flow properties but can’t get financed for more?
My goal is to own 80-100 properties with a total cash flow of 15-20k/month. I don’t see it as an extremely difficult goal and I am prepared to spend all the time I need to obtain it. I just worry about the day I can’t get a loan after catching that perfect egg.
Has anyone reached a limit on how many properties they can purchase?
I can’t say this is still a given but I read somewhere recently where Fannie Mae and Freddie Mac will only allow an individual to have 10 loans at one time (hence, personal residence and 9 investment properities). This applies to convential loans.
I’m getting that same word from my realtor. I would say that you may be able to circumvent this by moving the properties into LLCs, try to get seller financing, do some 'sub2s, try for some non-conforming loans, etc.