HELOC for Self Employed (No W-2 Income)

[Dustin Sanders]

Hey All,

I'm interested in understanding what my HELOC options are to either buy more real estate or to use for business purposes. I just recently got laid off from my W-2 about a week ago (I am actively interviewing) so I wanted to know if there are HELOC options that do not validate income.

For context, I have 6 properties (4 STRs & 2 LTRs) that are all cash flow positive. Of these 6 properties, 3 of them I purchased in 2021 & 2022. I would qualify with my credit score. My previous 2 years of tax returns look good too though when I had my W-2 my DTI I believe was around 45%. This is due to the fact that 3 of my STRs do not have 2 years of tax returns.

Do I have a no income validation HELOC option or do I need to wait until I can another W-2??

Thanks in advance & any feedback is helpful!

Dustin