All Forum Posts by: Logan Gonzalez

My long term goal is having 5k a month passively through multiple rentals. It seems everyone so far is leaning towards having the main one paid in full instead of a couple that only have down payments. I believe I will take this advice and go down that path. 

I am still unsure on how lenders will give you multiple loans. The math kind of gets confusing for me after the first or second, your income would be so offset by your debt. How do people keep the process going and secure multiple loans? Are there lenders that consider rental income into your debt to income ratio? That seems like the only way your debt could grow with lots of rental loans and your income could keep up with it on the ratio to qualify for another.

Thanks for taking the time to respond guys. I appreciate it. 

Hello, investment noob from Texas seeking advice. In summary, I own a rental free and clear. I just inherited around 30k. Which route is more promising? Sitting on one paid off rental, using inheritance to make down payment on another? OR sell rental, combine profit with inheritance equaling roughly 140k altogether, and make 4 or 5 separate down payments on multiple properties? My goal is to have multiple rentals, but I'm not sure if there is some hidden advantage to financing several if I have one paid in full, or go all out and make minimum down payment on as many as possible at once. Thanks in advance. 

Thank you for the feedback so far, I actually think I figured out the general formula and equations using a mortgage calculator. Thanks again.

More specifically I am trying to chain purchase rentals by extracting the equity from the previous one. I am sure there is a better choice of all the options. Do you take a small equity loan for 20% down payment on the next rental? Is it more efficient to put all my 70k down? Do the numbers typically favor the investor if they were to split the 70k into two down payments and buy two properties? I recently bought a nicer second home that I currently live in. That particular mortgage is making my debt to income ratio look bad. Is there a work around to this issue? What exactly would some of the people in this community with that amount of equity and those type of payments to the equity loan? 

Hello, I own a rental property and I have paid it off in full free and clear. It is worth approx. 100k, I have been basically pre approved to cash out on the equity and receive 70k loan with monthly payments of $700. How should I re invest that money? I am tryin to purchase more and more rentals to achieve freedom number. I am in Corpus Christi Texas. Thank you!