All Forum Posts by: Sochima Eze

@Shaun Weekesthanks! If I come across something that looks worthwhile, I can still pull from my primary residence. However, on BP I've read about some people talking about no seasoning time for refinancing. 

Excellent point actually...it actually puts me back in the high 30s. 

After getting the next property, it'll be around 46

I am about a month away from closing on my first duplex in Queens, NY. The house will have approximately 300-400k equity in and I have another 120k in my residential home as well. As I read more on the forum, I'm considering investing out of state after I get my second property cash flowing. However, with both of these properties, my DTI is on the high side. I'd like to start with BRRR with the 3rd investment (out of state), but is there a way to get equity out of the house with a higher DTI? Will a portfolio lender be able to help?

I am about a month away from closing on my first duplex in Queens, NY. The house will have approximately 300-400k equity in and I have another 120k in my residential home as well. As I read more on the forum, I'm considering investing out of state after I get my second property cash flowing. However, with both of these properties, my DTI is on the high side. I'd like to start with BRRR with the 3rd investment (out of state), but is there a way to get equity out of the house with a higher DTI? Will a portfolio lender be able to help?

Leon Henry would you mind sharing what went wrong with your first multi family? Sometimes those examples are just as important.

Alan Eng welcome from a fellow New Yorker. Do you mind sharing any info about the two investment properties you currently have?

David Bethel welcome from a fellow New Yorker! The New York market is definitely a difficult one to operate in, but it can be done! Charmaine M. just closed on her first deal in Queens. One of the important first steps for me (I'm still a newbie putting together a plan) was to take a good look at the resources I currently have. A change in the way you look at your current assets will do wonders for you. Second, peruse peruse peruse this sight!

Jameson Drew can I ask how you found the property?

@Charmaine M.that's awesome! Do you have to pay back the first time home buyers grant of $7500?