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Updated over 8 years ago on . Most recent reply

User Stats

249
Posts
54
Votes
Mushfiq S.
  • Seattle, WA
54
Votes |
249
Posts

Too many investment loans effect my ability to buy my home?

Mushfiq S.
  • Seattle, WA
Posted

I currently have 1 investment property. My father is my partner in all deals (we go in 50/50). He insists, since I do not have a primary home, that I do not take many loans. So we have been trying to maximize properties under his name so it does not affect my Debt to Income and ability to buy a home personally.

I do have plans to purchase a personal home in 5+ years.

My question is: if I can show positive cash flow from all my properties in two years' tax returns, will that decrease the debt liability to underwriters? 

I want to purchase investments but also one day settle down somewhere. What is the best strategy for this?

Most Popular Reply

User Stats

396
Posts
107
Votes
Michael Barbari
  • Banker
  • Downers Grove, IL
107
Votes |
396
Posts
Michael Barbari
  • Banker
  • Downers Grove, IL
Replied

@Mushfiq S. If you show on your tax returns that you cashflow every property you should have no problems. It's the investors who show losses who have a tough time. I deal with this daily at my bank.

  • Michael Barbari
  • Loading replies...