52: Rookie Reply: My Debt-To-Income is Too High to Get Another Property, How Do I Keep Up the Momentum?

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 13 February 2021

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week’s question comes from Meghan on the Real Estate Rookie Facebook Group. Meghan is asking: How do I keep up the momentum after closing on two deals, when my debt-to-income ratio is too high to get another loan? I’m too new to bring experience to the table, and without much cash or financing, what do I bring to the partnership? We’ve heard this A LOT from rookies, and this is one of the main reasons that rookie investors get stuck and stop investing consistently. Ashley and Tony both have some great advice on keeping the ball rolling so your investment portfolio keeps growing! Here are some suggestions: You always have some amount of experience that is valuable to a partner Find strengths in yourself that partners may lack Share what you’re doing with other investors or in your social circles Be confident on future deals: you’re bringing partners an opportunity Look into other types of lending like commercial lending If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover Debt-to-income (DTI) ratios and how they affect loans Getting your personal finances together to show investors you’re responsible What you should say to ANY investor who may be interested on partnering up Finding a strategy that fits into your lifestyle And More! Links from the Show David Greene's BiggerPockets Profile BiggerPockets Meetups Brandon Turner's BiggerPockets Profile Check the full show notes here: http://biggerpockets.com/rookie52 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is real estate rookie show number 52.
0:07.8	I am your co-host Ashley Care and I have Tony Robinson with me.
0:13.0	And we are back for another Saturday episode.
0:17.4	What's up, Ash?
0:18.1	Excited to be here.
0:19.0	Excited to give the folks some more good stuff to listen to.
0:21.8	And real estate with you, which I love doing, obviously.
0:24.8	I know, I know.
0:25.6	I think we talked for half an hour about different real estate stuff.
0:28.8	We have going on before we actually started recording today.
0:32.3	All right, I know we're all excited to get started,
0:33.9	but let's take a quick break before we dive into today's episode.
0:36.8	Our current interest rates making you depressed about cash flow.
0:39.9	What if it didn't have to be that way?
0:41.8	Rinse to retirement has 2.99% seller financing available on turn key properties.
0:48.4	You heard that right.
0:49.4	That's a seller financed 2.99% interest rate where the average cash flow is over $900 per month.
0:57.4	They also have options where you can put as low as 5% down on multiple investment properties with no PMI.
1:03.8	Rinse to retirement is the nation's leading turn key investment company that understands what it takes to be successful in today's
1:10.1	dynamic real estate market.
1:11.8	Their reputation speaks for itself with more five star reviews than any other company on the bigger pockets website.
1:18.1	Rinse to retirement offers fully turn key properties that are newly built or renovated,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.