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

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Rainmaker
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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

Call Tom Parke with Mason McDuffie Mortgage. 

Cell: (415) 828-5004

 

tparke@mmcdcorp.com

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

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

Jul 02, 2017 08:43 AM
Ambassador
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

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, Keller Williams fox cities - 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
Rainmaker
45,933
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
3,818,263
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

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 and Marketing

Christine,

Maybe some of our lending members can answer that.  A

Jul 02, 2017 07:54 AM
Rainmaker
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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
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, 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
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

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

Jul 02, 2017 07:30 PM
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Harry F. D'Elia
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
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
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

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
907,507
Ryan Huggins - Thousand Oaks, CA
www.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
752,252
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
1,348,291
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One Group - Carlsbad, CA
Presence, Persistence & Perseverance

I am eagerly following the answers on this one.

Jul 02, 2017 10:15 AM
Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles 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
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Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

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

Jul 02, 2017 08:59 AM
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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
4,116,192
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

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
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Barbara Todaro nailed this one!

Jul 03, 2017 07:53 AM
Rainmaker
401,093
Nathan Gesner
American West Realty & 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
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Jennifer Mackay
Keller Williams Success Realty - 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,CRS,e-Pro
Big Block Realty 858.232.8722 - La Jolla, CA
Co-Host of Mail-Right's: Real Estate Agent Podcast

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
Rainer
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raheem shaik
lol - Birdseye, IN
good
Jul 03, 2017 06:02 AM
Rainmaker
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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
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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
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Praful Thakkar
eXp Realty - 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
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck.

Jul 02, 2017 08:20 AM