$80k on hand but bank says DTI too high to finance , now what??

[Gustavo Juarez]

Hi all, so my dad recently did a cash out refi on his only rental property and pulled out 80k. He wants to invest by buying BRRRR properties. His plan was to use the funds to put down 20% on two 100k rental properties and begin the whole BRRRR method.

However the bank that refinanced his rental said that they wouldn't be able to approve him for a home loan to finance those properties because DTI is too high.

My dad is 76 years old and is on SS benefits and has a pension.

What options does he have?

Thank you all!!

[Derrick Dill]

Other options: Try other lenders/brokers

Pay off something to lower his DTI (auto loan? CC?)