Using equity to invest

[Henry Peñate]

Hello all ,

My wife and I are in the process of making a plan to invest in our 3rd property , we have our primary which we just bought with a conventional loan a couple weeks ago and we have our rental property which we put a tenant in just a few weeks ago also.

We plan on using a equity loan from our rental to use as a down payment on #3 , my wife has brought up a solid point as how will the banks loan us a investment loan with debt to income ratio being a factor as if they will or won’t loan us the money.

I would like to receive feedback as how others have done it and what strategies they’ve done.

Rental Property - Loan under my name only

119k mortgage with 5% interest $1246 payment, appraised at 200k-220k

Primary - Loan under wife’s name only

205k mortgage with 2.7% interest $1470 payment , appraised at 220k

We plan on either purchasing another single family or a multi family up to 4 doors.

Thanks all in advance

Henry from Houston , TX