Buying my first property without any income or W-2

[Kenny Engel]

So this is my first post on here (cue the party poppers). I am learning everything I can here on BP, doing my due diligence, going to my local REIA meetings, networking, building a team, analyzing deals and getting all my ducks in row and not jumping into anything without precaution.

I spoke with an acquaintance of mine who is a loan officer. She has given me the run down of everything I need to start my first deal. All is going well except for one problem: I haven't had a w-2 job in years. As far as I'm concerned, I will pretty much be exempt from getting a loan with a bank, and I understand why.

My next question is what would my next step be? My credit is great (high 700's), I have no debt, and I have capital to start. I want to do the BRRRR strategy since it makes the most sense to me, along with flips if the numbers are right.

I don't own a house, I've never had a loan, and I live in Cleveland, Ohio if that helps. I've paid cash for everything my entire life. My understanding is that I either need to A.) get a job working for someone B.) use a mortgage broker or C.) team up with a partner and become seasoned for two years.

I'm curious to what everyone on here thinks as to what my options and next steps are with this situation. Look forward to all the shared wisdom!

[Natalie Kolodij]

Do you have tax returns showing you're self employed?