How to purchase more than two investment properties?

My question is how do people have many investment properties say 7-10 $100,000 properties? When you try to get financing for more properties wouldnt you you be so far in debt? I know that you rent out the properties but you cant make that much profit after the mortgage payment. For example if you have 7, 100,000$ properties renting for 1500 a month with a mortgage of 1000 for each your only netting 3500 a month and in $700000 worth of debt so how can you keep getting loans for more properties?

many times, the more you owe, the more is loaned to you, especially if you have a history of always paying your loans. More than likely, that person has a profit and loss statement to show to the lender, and is financially sound.

What Dede said and also you can create an LLC, so its not you that directly owes the debt.

Your making the mistake of looking at net, not gross monies.

For example, when you go to a bank for a mortgage for your personal home, they ask for how much money you make. You tell them the gross amount, not the net (take home) amount. So if you make $80,000 per year, you tell them $80,000 per year.

The same thing holds true for investment properties. By your example you have 7 $100,000 homes renting for $1500 a month each. That means you are grossing $10,500 per month, or $126,000 per year. Add that in to the money you make from your day job ($80,000) and you are at $206,000 per year gross.

The mortgage company will, of course, also ask for your debts where you will list all the mortgage payments you have and it will show that you turn a profit on the properties so it is a plus for you.

The biggest thing that takes the hit when you have multiple investment properties is your FICO score. Believe it or not, when you get into multiple properties like this, the FICO score counts less towards whether you get the loan or not. More importantly is how long you have been in the business, whether your business turns a profit and accurately showing your income on your takes for previous years.

you get it
don't know where you can buy a house for $100,000 and get $1500 mth (that's very good)

we have been in property management for 23 yrs and we do not own any rentals for a reason. there is no investment
very seldom do the rental amounts cover the mortgage, the end results we have a lot of investors now wanting to sell those rentals