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Updated about 6 years ago on . Most recent reply

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Mark Toraic
  • Laie, HI
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Equity Great, DTI High

Mark Toraic
  • Laie, HI
Posted

Currently own 3 properties, 2 of which are rentals, all purchased within 3 years with each having around 200k of equity. Wanting to purchase another property but finding my DTI way above requirements.

What can I do? Is there a strategy, something that I can do to purchase another investment property?

Humbly asking for any recommendations, ideas.

Thanks

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Chris Mason
  • Lender
  • California
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Chris Mason
  • Lender
  • California
ModeratorReplied
Originally posted by @Mark Toraic:

Currently own 3 properties, 2 of which are rentals, all purchased within 3 years with each having around 200k of equity. Wanting to purchase another property but finding my DTI way above requirements.

What can I do? Is there a strategy, something that I can do to purchase another investment property?

Humbly asking for any recommendations, ideas.

Thanks

You probably just need to find a local REI-friendly lender. Most lenders have overlays that cause rental income to not "count" for various reasons, meaning that they are doing math as if the rental properties were liabilities rather than being (at least) cashflow neutral; you need one that doesn't. Ask around at your local REIA; most of those folks with 5 or 8 mortgages do NOT have the day-job income to support them all, already came up against this, and already found the solution.

  • Chris Mason
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