how can you??

how can you??

I don't understand how you can buy ao many houses? Dosen't go against your debt to income at some point to where the mortg. says your at your limit! Can someone please explain how you can buy more than like 3 or more depending on your income savings et.

Thank you and God Bless
Scott

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Scott,

If the bank sells the mortage on the secondary market say to Fannie Mae or Freddie Mac you can hold upto 10 mortgages. What Matt Larson and Dean have discussed, is most smaller local banks that hold mortages and service them in-house do not sell them on the secondary market. Sometimes these smaller banks are called portfolio lenders.

The smaller banks may not even report the mortage against your credit as well. However, you have to ensure your rental properties cash flow your mortages and other debt as they do consider your debt to income ratios, etc. I hope this helps. Good luck with REI. Believe and Achieve! Smiling - Joe

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debt to income

Thank you so much for the info, I can't wait for things to come together!

May God Bless you and your family
Scott