Multi family to multi family

[Ricardo Diaz]

Hello just wanted some input on next steps. I bought a 3 family 2 years ago and it’s been great. Now I’ve been there two years and want to get into another multi family and rent the one I have now full. 
what strategies can I use. I was told I needed 20 percent but the higher costs of the houses makes it a little tough. I guess maybe use equity and scrape up the 20 percent or maybe a lender who can work with me.  

[Trevor Schmitt]

Hey Ricardo, 

Nice work! Sounds like you have put yourself in a great position. 

As @Ryan Muska commented on... if you are going to purchase and live in a 1-4 unit property, you will be able to get into that property with 3.5 % down. Additionally, you are now able to use the rental income you have received for the last two years towards your DTI numbers, and most lenders should allow you to use up to 75% of any income the property you purchase is currently generating.