How can I get my second rental property?
I currently live in Amarillo, TX but I'm planning to move to DFW area within the next 3 to 6 months. I currently own my home in Amarillo but its up for sale and I recently bought a rental property in Fort Worth, TX in October. My plan is to purchase a 4 unit property in the DFW area to live in one and rent out the others. I have found one that I'm very interested in but I'm concerned about my DTI ratio, what are some creative ways that will me to make an offer on this property, with the confidence to close?
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Commercial banks loan on deals. Have a history to show the banks and get the loan. I think my DTI was around 10-12. And in a couple weeks we are getting bank financing to purchase 32 units. Some seller financing. My DTI will be 20 or more. A deal will sell itself if you have a history.