Hey guys,
I'm looking to try out the BRRRR (R's variable) investment approach, but something doesn't make sense...
What about the Debt to Income ratio? Shouldn't this shut the Brrrr down in 2 transactions?
So lets try Brrrr:
I buy a house Cash $120k and Hold. Renovate brings it up to $160k. Rent will be variable depending on location. Refinance at 80% $128k cashout, now have a loan but tenant in place. Repeat.
Now it seems that if I repeat, I'll have 2 loans. Repeat again, 3 loans. How is a bank going to approve me with 3 mortgages? Will the tenant rent income factor enough to lower the DTI? How strong is Airbnb income?
Thanks for your help, if you have a book or resource I can learn even more from, please send!
Submitted January 01, 2018 at 02:01PM by BichonUnited http://ift.tt/2Ca3kQQ
