Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Innovative Strategies
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 1 year ago,

User Stats

2
Posts
0
Votes
Noah F.
0
Votes |
2
Posts

What's my next move?

Noah F.
Posted

I currently own 2 properties:

1. Single family 3br 2b, no mortgage, $400k equity, generates $2,000 income monthly (long term tenants)

2. Duplex 2br 1b (each unit), $270k mortgage, $15k equity, generates $1,800 income monthly (long term tenants)

I also have unearned income of around $24,000, no W2 income, and about $20k cash for a down payment + closing costs. My credit is excellent, no debt besides the mortgage. However, I know I'm not going to be approved for another mortgage by traditional lenders because I've only been a landlord less than a year so I don't think they'll count the rental income towards my DTI. Nevertheless, I want to leverage the equity of my SF property. What's my next move? As it stands my plan is to hold until rates come down and I've established myself to lenders, but that's years away at the soonest, and I want to be proactive.

Loading replies...