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Updated over 6 years ago on . Most recent reply

User Stats

14
Posts
4
Votes
Jeremy Williams
  • Lake Stevens, wa
4
Votes |
14
Posts

Need financial advice on first investment purchase

Jeremy Williams
  • Lake Stevens, wa
Posted

Good morning my fellow BP-ers! After reading the richest man in Babylon, I have come to the source of all things knowledgeable, to seek advice. I am currently an agent/broker in WA state and have a couple of other businesses. When speaking with my preferred lender on qualification amounts (I am getting married next year as well and my house will have 2 additional kids), my qualification amounts were far less then needed due to net income vs gross income. My lender has told me to just not write off my taxes for two years (even though all my write offs are good) and to just pay the taxes on them so that I can qualify.

Upon doing research I was thinking if I get into a multifamily where I wouldn't need to qualify for as much because some of balance would be used from rents?

Should I wait and pay taxes or find a multi family?

Thank you in advance!!

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