Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago on . Most recent reply

User Stats

61
Posts
46
Votes
Patrick Crehan
46
Votes |
61
Posts

First prop... DTI isn't too promising tho

Patrick Crehan
Posted

By January of 2020, I should have around 14k saved up in the bank to invest in my first property. I am still doing research on what I want to do (Bx4, mulitfamily, etc.) but I am not sure if my DTI will check out by the time I want to strike a deal. So, now I might be leaning toward networking to find someone that will do a land contract. Or is it possible by the time I have my money saved, could a lender be generous enough to lend a hand? My DTI is some where in the ballpark of 49% but will be lowered to something like 44-46% by January of 2020. Also, I am currently in college (that's the big thing that is worrying me). I am not paying any student loans right now, but honestly I have no clue how that is implemented in with DTI when lenders check on that. Really, what I am asking, when the time comes and I have that 14k cashed saved... what should I do? Network to strike land contract deal, bombard lenders with applications, etc.? Any strategy ideas would help! Thanks!

Loading replies...