New user question here

I am a new user on this site just beginning my real estate investing career, I really see a lot of great info on this board. My question concerns financing, starting out with purchasing properties. I have a good steady income, a credit score around 800, but am wondering, I have a new mortgage for the current home I live in and 2 new cars I’m paying for, other than that just utilities, can I still acquire other properties, won’t my debt to income ratio play a big part to lenders. Thanks in advance.


Are you talking about a property to buy and hold (rent out) or a property to fix and sell?

If you are buying a property to hold, the lender should let you declare the rental income as part of the equation. Many will let you use only 75% of the rental amount. A lender should LOVE to see a guy with a steady income and a credit score of 800 come ask to borrow his/her money!!!

Good luck in your investment career!


Keith, Thanks for the quick reply. I’m looking at PreConstruction in Florida and I’m looking at doing Flips in New Jersey where I live, not sure I want to get involved with tenants yet. I guess what I’m worried about is taking on to much starting out and have heard from many people, do not to use my own money so I’m trying to learn as much as possible about creative ways to finance without spreading myself to thin.

Other posters’ opinions vary but for me, I would recommend as a beginner, staying close to home. That way you can see, touch, and feel…an investment in Florida could go horribly awry and it could be months before you knew!

Plus, you learn a lot more if it is right in front of you where you can see it, watch inspectors, watch the appraisers, watch any contactors involved, etc.

I would be worried about taking on too much to start with, too ESPECIALLY from 1,200 or so miles away!

My two cents,