Rental Property Investor · Philadelphia, PA · Member since 2020 · 3 posts · 1 vote
Looking for guidance on expanding to more property I currently own one duplex (house hack) living in one side of the building and have small capital of about 60k cash! I have a small equity in the current building we put 20% down at purchase and have been living their for about 2 years! I want to purchase another duplex or triplex what is my best
Option in completing this process without running in to DTI problems with a lender I currently work in electrical industry full time (linework) and make about 100k salary a year! I am open to partnering with people in my life but ultimately want to own the properties myself how do I purchase my next property if the lender doesn't want to give me the loans to build my business! I have enough capital for 20% down I have a good paying job I could potentially borrow against my property's equity if needed any advice from peoples past experience when they where at this point would awesome and greatly appreciated!
Real Estate Agent · San Pedro, CA · Member since 2019 · 253 posts · 128 votes
5y
@Connor Coyle keep giving more lenders a call and see what you can qualify for. the rental income from your current duplex should help your DTI. Also, make sure they're at least taking into account a portion of your projected rents on the new duplex/triplex.