I have learned an interesting fact about becoming a first time investor! Now you cannot include any portion of the rent income to qualify. You can have exellent credit, good income, be financially secure, but if you cannot afford your current debt load (including your house payment) and the new payment, you may not qualify, even if it makes financial sense! With 20% down, you still might need a co-signer! I am not sure how long it would take to be able to purchase your second rental and then what income can be included.
Featured property of the day is: 2136 Creede Ave for $287,000 in the Quail Run Subdivision in Loveland. All Brick Ranch with walk out basement. Link is below to go view it.
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