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Updated over 2 years ago on . Most recent reply
Buying second rental property
Hi everyone I just optimized my house hack by bringing rents up to market value and renovations are finished. I am looking to purchase my second property which will be either a triplex or quadplex in the southern New jersey area.
Its going to be hard to qualify for another traditional mortgage because I have this property plus I merged my painting business with another painter 6 months ago so I wont have 2 years of tax returns to qualify.
What are some good alternates to traditionally mortgages, maybe a DSCR or hard money loan? I'm not really sure where to go from here
Most Popular Reply
Hi @Bradley Rieger, I'm based in Southern California, but I have started my out of state real estate journey in Indianapolis. Now, I have a portfolio of Short Term Rentals and Long Term Rentals. I've started looking at Columbus because my business partners have found success doing Mid Term Rentals there and the returns are solid.
I've also helped other investors with their DSCR loans and flip projects. Happy to share my experiences and chat with you more if you're interested.