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Updated 12 months ago,

User Stats

49
Posts
20
Votes
Joshua Smith
  • Investor
  • Denver, CO
20
Votes |
49
Posts

Home Loan for Real Estate Guy

Joshua Smith
  • Investor
  • Denver, CO
Posted

I own ~9MM of real estate with a partner; but I'm trying to buy my own house, and it's challenging! Any ideas?

-My tax returns look crazy because all my income is offset by massive depreciation. Last year, my taxable income was like 7K.

-I pull in ~9K/month of cash flow, but it's all tax free from the depreciation

-I can harvest ~$1MM of cash at the end of this year after I refi some mobile home parks, but my DTI will be high then

Traditional lenders scoff at my taxable income, as if it's really the income that I make. 

Are there loans that can look beyond the fact that I don't have a W2? Could do a DSCR and pretend it's a rental I'm looking for, but nothing pencils in Denver on that front. I guess I could do like a 50% down DSCR loan and it might pencil DTI-wise.

Any ideas out there?

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