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Christine Kankowski North SD and Temecula, Excellent Sales and Property Management (House Match Inc)

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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Call Tom Parke with Mason McDuffie Mortgage. 

Cell: (415) 828-5004

 

tparke@mmcdcorp.com

Jul 02, 2017 07:44 AM
Rainmaker
5,216,398
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Get in contact with Joe Petrowsky. He is a treasure trove of knowledge and loyal Rainer!

Jul 02, 2017 08:43 AM
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Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

I'll bet John Meussner has an answer for you! I have dear friends who are approaching their 10th and are wondering what they'll do after this! We're not there yet though!

A portfolio lender may be the only way to go with this situation though.

Jul 02, 2017 03:10 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I dont know off the top of my head how many mortgages I have but my banker never mentioned a limit.

I found long ago that it is better to get away from those lenders who want to fit you into a federal program in order to sell your note off.

Best to stick with a more personal bank who will know your business and keep your loans "in house". 

This allows much more flexibility and allows both of you to go after the deals that will make money for all.

 

Jul 02, 2017 10:43 AM
Rainer
117,135
Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

Thanks everyone! I'll keep you posted on what I find.

Since like an odd rule to stifle the investors who have done well - even thru the recession buying quality properties. Never a foreclosure or short sale or missed payment for that matter, yet can't get a loan on future properties. 

Jul 02, 2017 08:48 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I'm sure someone will surface with an answer!!

Jul 02, 2017 08:43 AM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Christine,

Maybe some of our lending members can answer that.  A

Jul 02, 2017 07:54 AM
Rainmaker
2,220,323
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

If the investor has more than 3 mortgages, that will be hard to find. Most likely, you would need private money mortgage, but the interest rates are not going to be competitive. 

Jul 02, 2017 07:41 AM
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John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Thanks for all of the mentions!

Christine Kankowski North SD and Temecula , you won't quite see regular rates for a borrower with 10+ financed properties, but financing options are out there.

Fannie Mae has a limit of 10 financed properties, so going beyond that is going to take you out of the conventional world.

Happy to help if you need it  

Jul 02, 2017 08:50 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I don't know any sources but ask John Meussner, he may have a resource.

Jul 02, 2017 07:30 PM
Rainmaker
1,617,916
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

You will have to upgrade to portfolio lending

Jul 02, 2017 02:07 PM
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Perhaps John Meussner can help.

Jul 02, 2017 11:28 AM
Rainmaker
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Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Yes I understand that is now a problem no matter how seasoned the investor is. I have a friend that has the same problem - no solution yet.

Gene Mundt

Jul 02, 2017 11:19 AM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

John Meussner may be able to help.

Jul 04, 2017 10:19 PM
Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

WOW

Jul 02, 2017 12:27 PM
Rainmaker
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Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Have you tried a portfolio loan with a local credit union or local bank?

Jul 02, 2017 11:02 AM
Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

I am eagerly following the answers on this one.

Jul 02, 2017 10:15 AM
Rainmaker
1,622,432
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

If they have enough down-payment and income to cover additional mortgage, I do not understand an issue. 

Jul 02, 2017 09:56 AM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I would hope some of AR crackerjack lenders can help here. But it's tough. 

Jul 02, 2017 08:59 AM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

There are quite a few non-conforming loan lenders out there. Typically they only give ARM loans of 3 to 10 year fixed, and with higher rates.

Jul 02, 2017 08:34 AM
Rainmaker
7,836,134
Roy Kelley
Retired - Gaithersburg, MD

This will be a good blog topic for you.

 

Jul 02, 2017 08:31 AM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Barbara Todaro nailed this one!

Jul 03, 2017 07:53 AM
Rainmaker
599,274
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

Have you joined BiggerPockets.com? It's a great site to network with investors and you'll find plenty of lenders there.

Have you considered moving into multi-family investments?  I have a few single-family but can get a much better return with multi-family and the lending is easier (for me) with 5+ units.

Jul 03, 2017 06:55 AM
Rainmaker
989,652
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Parked and reading

Jul 03, 2017 06:51 AM
Rainmaker
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Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Contact Jason E. Gordon for advice.

Maybe a business attorney too as possibly an LLC or "?"-Corp would solve this?

Jul 03, 2017 06:17 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Sorry, I don't know of anyone.

Jul 03, 2017 05:48 AM
Rainer
225,526
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

One possible solution would be to do a refinance cash out on some of the properties they have equity in and purchase the new property for cash. That way they would still be at 10 properties. You need to see if that is possible

Jul 03, 2017 05:35 AM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Christine Kankowski North SD and Temecula -  some unique lender who could do this..

Good luck.

Jul 02, 2017 11:43 PM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck.

Jul 02, 2017 08:20 AM