OfflineHello everyone and happy new years. I am from cincinnati,oh and am very new to investing. I would like to know how many properties can an investor legally own at any given time? thank you to anyone who has the answer for me.
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How many properties can you own
Posted on: Tue, 01/26/2010 - 19:09
On a lease option, how does one let someone lease there house, I thought they had to live in it themselves for so many years? I am very new at this, am reading Dean's book as we speak. Just wanted to throw that out there. Thanks!
One can own as many homes as one wants
If you're talking about under your SSN in terms of financing I think the limit is no more than $2mil
I could be wrong.
You can own as many properties as you would like to. I know Investors that own over 30 homes here in Missouri.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
You can own as many homes as you want. As long as you can get financing then you can keep going. The banks might cut you off after a certain number, it depends on finances.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
A lease option is when the home owner besically lets someone lease to own. Meaning they rent this home owners house, with an option to purchase eventually, it may be a year, or 3 years, whatever it may be it is simply renting with option to purchase.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
There is no limit to how many homes an investor can own. Different lenders will have their own requirements as to how many they will loan against with each investor. That means that an investor could go to a lender who might loan on a maximum of 3 properties per person, but then go to another lender that might loan on 9 properties per person. That doesn't include how many properties you might by through private funds, hard money, partnerships, etc.
There are also many times with clients we are hearing of property owners not being able to keep up with payments, and they are quit claiming properties to buyers with no down payment given at all.
So between all these methods, there really is no limit to the number or value of homes one investor could buy. If you have the capacity to manage them, STACK THEM UP!!!!