Anyone here who earns a living via flipping?

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Re: Anyone here who earns a living via flipping?

@khattichic

Down payments on investment properties are minimum 20% for non occupant owners. With residential properties, the mortgage approval is not contingent on projected income, it’s pretty much the same as if you’re buying for owner occupancy: credit, debt to income ratio, 3 years of tax returns etc. When doing your due diligence though, while considering a property for potential investment, after factoring in your expenses (mortgage/tax/insurance, property manager fees if you’re going to use one, maintenance incidentals) you want to have a 8-10% cap for it to be worth it.
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So I am a little confused by this statement, I may have to talk to one of my pals. The dude has a few properties but I don’t know how that will work with the debt to income ratio. I think the cap is what 3x your income? I may just msg u