 more properties (by lee [DE]) Sep 30, 2009 6:38 AM
 more properties (by MrRational [MD]) Sep 30, 2009 7:31 AM
more properties (by Jason PA [PA]) Oct 1, 2009 6:34 AM
more properties (by lee [DE]) Posted on: Sep 30, 2009 6:38 AM
Message:
State Specific Question About: DELAWARE (DE)
Hi everyone and thanks for your time. We currently own 4 rental properties and do well. We are looking into a 5 th but with the new mortgage rules, the strictness of giving loans, don't think we will be approved. Does anyone have advice. For example, anyone ever do a commercial loan for their rentals? can we become small business owners to get better rates or mortgage approvals? --66.173.xxx.xxx |
more properties (by MrRational [MD]) Posted on: Sep 30, 2009 7:31 AM
Message:
some points:
1) the smaller local banks are much more likely to lend on LOCAL real estate. If you aren't already banking local then start.
2) absolutely look into commercial if you have no alternative (higher rates & shorter terms).
3) at some point RE investments should be earning enough to be paying their mortgages off. Even with the hit in appraisal levels of late... unless all 4 props were bought since 2005 there should be some collective equity to shift around.
--65.127.xxx.xxx |
more properties (by Jason PA [PA]) Posted on: Oct 1, 2009 6:34 AM
Message:
If you mean can you become a small business and get loans via sba or the like, No sba or such does not work with RE investors. --74.99.xxx.xxx |
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