Posted by Ed Garcia on January 06, 2001 at 09:07:07:
Henry,
There really is no limit as to how many houses you can buy in a year. Most lenders will have their lending limit, so the answer is, to just change lenders.
The more house you own, the more it will cost you eventually. Rather than be concerned, and stop doing business, I would just be aware of it, and make sure to plug it into my cost. Any deal that is cost prohibited by loan cost, isn’t a deal anyway. Loan cost can take a little fat out of your deal, but it shouldn’t break it.
HowManyHousesCanU RealisticallyPurchasePer Year??? - Posted by HENRY ALEGRIA
Posted by HENRY ALEGRIA on January 05, 2001 at 09:57:48:
OK SO I HAVE GOOD CREDIT AND A GOOD INCOME DEBT TO INCOME IS GOOD. I OWN A HOME AND A RENTAL AND JUST BOUGHT A HUD HOME.ASSUMING I PUT 10 % DOWN ON EACH HOW MANY CAN I BUY IN A YEAR OR IS THEIR NO LIMIT. mY THINKING IS THAT THE BANKS WOULD SEE THAT YOU ARE QUICKLY ACCUMULATING REALESTATE AND WOULD SEE THE RISK AS HIGHER. THANX
This depends: some lenders only allow three or four loans with their company-total. It basically boils down to cash flow, debt to rental income, your credit score, etc. Don’t forget the more mtg debt you take on your credit score lowers. Even if you have prompt paymts. Score is also based on other risk factors.