699: Seeing Greene: How Do I Buy Another Property When My DTI is Too High?

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 11 December 2022

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Having a high DTI (debt-to-income) ratio is enough to stop many would-be investors from taking the leap and buying their first, or next, rental property. So, what do you do when your income isn't enough to buy the next property? What if you've used up all your financeability on your primary residence or house hack? How can you squeeze out a loan to buy another property? We’re back on another Seeing Greene episode, where your “one away from seven hundred” host, David Greene, is here to give you practical advice on buying and selling properties. In today’s episode, we take multiple video and written submissions, with topics touching on how to buy more real estate when your debt-to-income is maxed out, what to do with a dangerous tenant, refinancing at today’s high interest rates, and why off-market deals aren’t always what they seem to be. And, if you’ve struggled with setting standards before, you’re in for a special treat, as David gives himself (and all of you) a personal pep talk on expecting excellency. Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot! In This Episode We Cover: The bright side of BRRRRing even with rising interest rates DTI (debt-to-income) requirements and getting around them for your next deal When it’s worth selling a rental property that has a low interest rate loan on it Off-market real estate deals and knowing when a difficult deal is worth pursuing Setting high standards for yourself and your team while not getting bogged down by lackluster work effort What to do when a tenant poses a danger to not only themselves but your property And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram David’s YouTube Channel Set Your Goals with David and Rob Books Mentioned in the Show SOLD by David Greene SKILL by David Greene Buy, Rehab, Rent, Refinance, Repeat by David Greene Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-699 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pogas Podcast Show 699
0:05.0	Frequently in my field find the majority of people you find do not have a high standard for excellence
0:10.1	It's a matter of the heart and what I mean by that is that what's in our heart will determine the actions that we take
0:16.3	If you feel a sense of obligation to do a really good job
0:20.6	You're gonna look for answers. You're gonna anticipate problems
0:23.7	You're gonna solve things without bringing problems to other people
0:26.5	If your heart isn't a place where you're saying I just want to get paid and do as little work as possible
0:33.3	You're gonna bring people problems instead of solutions. You're not gonna anticipate what could go wrong
0:38.3	You're gonna cut corners in your work coming up on 700 so stay tuned
0:42.5	We're gonna get there my name is David Green and I'm your host of the Bigger Pogas Real Estate Podcast here today with a seeing
0:48.7	Green episode in these episodes if you haven't seen one before I take question is from you our listener base and answer them for
0:55.6	Everybody to hear and we have a heck of a show today
0:59.7	Hick of a is spelled HECK UVA if you weren't sure
1:04.7	You're gonna love it we get into how to give up control over projects or people not doing things the way you want
1:10.8	That's an excellent question that we answer and sometimes you have to go dark green to find the light
1:16.5	Listen all the way to the end and you'll know what I mean by that
1:18.7	Why an off market deal may not always be as good as you want it to be or you're hoping it will be and how to evaluate that and
1:26.9	If someone is thinking about burr the right ways we have a very interesting and cool burr question from Suzanne
1:32.9	Who's like am I crazy here? Everyone's telling me that I should go this way
1:36.2	But I think I should go that way we answer that question and I think you guys will really enjoy that all that and more in today's
1:43.0	Show all right before we move on let's hear from today's show sponsors real estate investing is one of the best ways to build long-term wealth
1:52.6	But to be a successful investor you need to know what news and trends to pay attention to and what's just noise
	...

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