Rookie looking for first deal.

[Erik Cardero]

Hi everyone, 

I’m looking to buy my first investment property, I tried to purchase a vacation home in Orlando but was told my debt to income ratio it’s high, and that I have to put down 20% instead of 10% or purchase under 130k which there not much options. Any ideas?… would love to do a short term rental .  

[Joseph Bafia]

How far off was your DTI from what they needed? Sometimes it may be as simple as paying of a CC balance or remaining auto loan. How much do you have to invest to start? We bought 2 properties under $100k that we use as short term rentals, so they're out there. Otherwise, can you get funds from others to do the 20%? Do you own a primary home? If so, does it have equity and can you get a HELOC?

Always an option so don't give up!