Getting 2 mortgages at once...

[Matthew L.]

As the saying goes, when it rains it pours!

I bought my first investment property about 18 months ago and was just starting looking for deals to buy my next 1-2 over the past few weeks. I wanted to get a mortgage in the $150-200k range to cover it.

I came across an apartment that I want to make an offer on. Listed for about $60k, needs total gut reno and ARV is around $100-110k. I would fix it and hold it as a rental.

The day after I found that I saw another apartment that I want to make an offer on listed for about $90k and was recently renovated.

Based on my finances, I'm confident I qualify for a mortgage up to $200k. Since the total of the 2 apartments I'd like to make offers on is $150k, would a bank allow me to get 2 mortgages at one time (on top of 1 I already have)?

If anyone could recommend a mortgage broker in Atlanta that could help with this I'd greatly appreciate it!

My finances

$45k cash for downpayment

$55k yearly W-2 income

$17k yearly rental income

-$12k yearly mortgage/HOA payments

Current mortgage is $129k on a condo with approx. value of $200k.