Credit Question
I will be closing on one rental property in a couple days.And 4 more in a month. I used a mortgaged lender for the first and the other 4 were a packaged deal and seller is helping me geta commercial loan. My question is Do need to stop using traditional
financing? Will my credit run out? Can I continue to buy houses using lenders as long as all of my properties are rented?
Yes, you can continue getting traditional financing. Your rentals will affect your credit score, though. Lenders will want to see a copy of your leases, and they give you about 70% credit of the lease amount. Therfore, you can see the importance of having a good cash flow on each of them.
Good Luck!