All Forum Posts by: Michael Hartman

So from excerpts from books I have listened to about real estate investing, one question is at the top of my mind.  I am not at the point in my journey to buy a home just yet.  For my first investment property purchase if I went through a lender and my debt income ratio allowed me to purchase something for 250k and then I rented it out.  Then 1 year later I refinanced or found outside funding and had the finances to purchase another property... could I?  My earned income from my w2 job would pretty much be the same from the year before and the cash flow from the rental would be a few thousand for the year.  If getting loans is based on debt income ratios then I think this way would not allow me to continue building my portfolio.  If I am wrong please educate me on what I do not know.  If I am correct then how can I continue buying properties in a situation where I am not loaded with liquid cash.  Please and thank you for everyone who responds.

I filed chapter 7 bankruptcy and this October 2022 will be 2 years after the case was closed.  I have a credit score over 700 and have improved on it since I filed.  I have researched and seen that for a conventional loan the waiting period is 4 years.  Is that a fixed requirement or is it possible to get a conventional loan sooner if you show improvements in credit score and financial habits?