I trade and invest for a living and have about $1.4 million in stock + cash. I’m 28. I currently own the house I’m living in. It is a 2 bed 2 bath with a mortgage of $1300/month. I can get around $3500/month in rent for it. I want to rent out this house and buy another house.
I was employed when I got the loan for my first house (the one I’m living in). My net worth was also much lower though (probably around $400k in cash and stock). Should I expect issues getting a loan on a second house? Would my interest rate be much higher? Ideally, I want to keep doing this and acquiring properties slowly and renting them out where the cash flow is positive on each property.