Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago,
Hello World-have a quick question about transitioning from 1 to 2
Hi all,
I have been following the podcasts for a couple years now and I am in a family heavily involved in real estate (they're old school), and have saved up enough for a down payment in my expensive area, I'll be house hacking with a friend and another I'll find.
My only worry is transitioning from one property to two. I make a solid income for my area, but I plan on a year or two from now moving to another house and doing the same thing, and my worry is the debt from this first house will keep me from getting another property, via the debt to income ratio. How did you folks transition from one to two, and what kind of financing did you get. My other question is will the banks treat your rental income as a steady stream or will they discount it. Any and all advice would be beneficial.