Debt to income ratio with investment property?
I understand that debt to income ratio is very important with the first property you buy, mine is comfortable 30 %. However, if looking to go into a 4-unit property as a second property, in my case it would raise my debt to income to about 60-65 %.
Someone told me that debt to income ratio isn't considered as much by lenders on second properties, that LTV is... he said there are different standards for an investment property loan.
I have 20 % down I'd like to put and enough in savings to cover any repairs and down periods. I don't see it as a monthly cash flow investment as much as a long-term investment in equity.
How would I be able to get a mortgage for it, and what might I run into? If the debt to income ratio is the most important, how is everyone managing to buy several properties which keeps increasing DTR? I have a solid job but not enough to own multiple properties and maintain the recommended DTR of 30 % or less.