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Updated almost 8 years ago,

User Stats

55
Posts
6
Votes
Rafael Brown
Pro Member
  • Ashburn VA
6
Votes |
55
Posts

In need of some guidance on lending

Rafael Brown
Pro Member
  • Ashburn VA
Posted
Hello fellow members, Ok, here we go. My family and I are relocating to another part of the country in July of 2017. The plan is to rent a home for a 1yr or 2 to save more cash. We do have a significant amount saved however we need a bit more to purchase the homes we are looking at. Now, with that being said while we are renting I plan to purchase rentals under 50K to rent out using our personal credit. We have Great income (w2) but I want to purchase 5 properties a year under the 50k (if your not open to this type of investing then just moving on, sorry for being blunt). My question is how would this work with a bank? Meaning if I have 5 or 6 rental properties under my belt would it stop me from buying a home personally? Would it effect my debt to income ratio and not allow me to purchase a home personally? Best Regards,  Rafael 
  • Rafael Brown
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