Updated over 4 years ago on . Most recent reply
I bought a new house
I bought a new house in dallas texas about 10 months ago for 250k that same house brand new is selling right now for about 310k I want to buy another one and rent out the first one, I have some money to put down for a 5% conventional loan. does it make sense to buy another new house? any recommendations?
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Will the first one rent out for enough $$ to cover all of your expenses AND make you some money on the top?
Also, are you going to be able to qualify for a second loan without any rental history on the first home? Most lenders will require the rental income to be on a tax return prior to counting it towards your DTI.