Skip to content
×
PRO
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
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
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 almost 6 years ago,

User Stats

3
Posts
1
Votes
Anthony Rodriguez
  • Kahului, HI
1
Votes |
3
Posts

Purchasing Second property, DTI Qualifications

Anthony Rodriguez
  • Kahului, HI
Posted

Aloha,

First time posting here on BP and would love to get some advice on purchasing a second property out of state as properties here in Maui or sky high.

Ideally I’m trying to purchase a second property to use either as a rental or Airbnb property and want to know if I would be able to qualify for another mortgage so I can set goals for myself.

I’m currently paying down debt by this summer and should have saved for a relatively small deposit by EOY 2019.

Here is my current position.

Purchased 1st property as a USDA in Maui

USDA Ln: $400k

Mortgage: $2202

Consumer Debt: $0 (06/2019)

Owe Aprx: $385,000

Home Value: $500k

Income: $74k yrly

Down payment: $23k (12/2019)

720 Credit score

Im looking to purchase something small, preferably in a wooded mountain area (ideal for short term rental) but open to anything affordable.

Right now I have my short term goals set out but been wracking my brain trying to figure out the next best possible approach to REI.

Any help or advice would be GREATLY appreciated!

Mahalo!

Anthony R

Loading replies...