All the books I read talk about refi then putting the money down on another duplex in 1 year.
What about buying a duplex then in a few months buying another by showing proof of the income from from the first duplex, with no money dwon.
Is this possible?
If I figure as long as I can prove I can make the payments it should not matter how many I buy a year.
You can buy as much as you want. Many investors buy 20+ homes a yr. When you have an investment property, the banks generally will calculate 75% of the gross rent as income. So $1000 month rent would be $750 income for your DTI. However after awhile, you will start going stated or even no doc. And HML…well many do not even bother with your FICO…
I just recommend starting slow and get use to being a landlord if you plan to manage the properties. Not everyone is up to being a landlord. I know I hated it so I use property mgmt company. Just make sure there is room for PCF with a mgmt co in place.
andrew