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Updated almost 6 years ago,
Cash Out for Rental Purchase
I recently took out the equity I have in a SFH rental property. My intent was to purchase another rental. Shortly afterwards, I stumbled across the BP website and realize there are other options to get me started investing (BRRRR, Flips, etc.) I wish I'd found BP earlier. Though I can find single family homes and a few duplexes which I can pay cash for, I'd really like to buy a tri or quad-plex for more cash flow. However, I would need to finance a portion of the purchase as I don't have enough cash to buy them outright. Will a lender consider my DTI ratio only when applying for financing of an investment property, and having just taken out an equity loan on my current rental, does it even make sense to apply for another loan? Any advice is appreciated.