All Forum Posts by: Brian M.

@Joe Villeneuve man of few words but very important ones.

I’m looking for recommendations on where to find the best data and research regarding various real estate market trends (state and local levels) for residential MF rentals.

I’m looking for recommendations on where to find the best data and research regarding various real estate market trends (state and local levels) for residential MF rentals.

If any one on the BP Forum has invested in or has researched Northern, NJ, Central, NJ or Philadelphia, what cities/towns do you feel are the best investment for residential MF house hacking?

@Stephanie Medellin thanks for this helpful information. Prior to buying my first residential MF, I will certainly bring this up to my accountant and attorney.

Any other advice please feel free to share.

@Kiera Underwood, house hacking and 5% down is something I am be able to do. I’m pre approved for $500K so thats good. However, I want to see how this year pans out with the housing market and overall economy.

I’m 23 so another 6 months or so is not going to hurt me in the long run. Plus I can continue to educate myself by asking questions and reading other forums on BP. You all have been very helpful with my many novice questions. Plus there are other real estate investing and property management books I want to read over the next couple months.

Any other feedback please feel free to share. I really appreciate it from everyone!

@Andrew Postell thanks for your explanation. Just to make sure I understand, if the property is producing positive cash flow to at least cover the mortgage principal, interest and taxes, that cash flow negates the debt of that mortgage which keeps my DTI in line. Am I understanding this correctly?

@Kenneth Garrett I appreciate you getting back to me with your suggestions. I am brand new to this, 23 years old and about 9-12 months from buying my first MF residential property. I’d prefer to purchase either a triplex or fourplex.

Will a commercial lender lend on something 4 units or less and do they look for experienced investors/landlords? If the numbers works I would not have a problem paying a higher interest rate if that gets me into my first property sooner.

Would the same DTI ratios apply to portfolio lenders and hard money lenders?

@Kiera Underwood thanks for getting back to me. I’m in NJ.

My question is on debt to income ratio and how that metric limits your ability to obtain additional mortgages in order to expand your MF residential real estate portfolio.

When I purchase my first MF residential property, with the intent of holding onto to it for the long term, it will be difficult to get approved for another mortgage as I will be close to my debt to income ratio limit.

Are there strategies or suggestions on how to best navigate the debt to income ratio limits for a buy and hold strategy investor?

Thanks,