How are you continuing to add properties???

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Posted by Mike on October 28, 2009 at 07:41:37:

I've gotta ask the buy-and-hold investors out there:
How are you guys continuing to buy properties
over 10?

The local banks here in Illinois are shutting
down their investment property lending, literally.
"No more investment property loans" should be hung
on the door. Its not one or two banks - its seemingly
all of them.

The few banks that are even considering these loans
are limiting themselves to their existing customers only.

I've got a couple of local banks that I've been
working with for a couple of years still giving
me loans but they're extremely limiting to what
I should be doing right now. I'm lucky (and thankful)
to be getting a couple of loans every 6 months.

What I wouldn't give for one balloon loan to
wrap up about 6 or 7 of these houses so
I could get some conventional stuff again.
Well, maybe 2. :-)



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