$150k cash, 740+ credit score and can't get a loan for anything...

[John Horner]

So this is a hypothetical...  But I am very motivated and eager to quit my day job.  Last year was my first full year as a Real Estate wholesaler, wholeTAILer and flipper.  I completed 17 deals last year, 15 of which came in the last 6 months of the year.  

I don't have $150k cash yet, but with the 5 flips we are in contract on plus the leads in our pipeline, this is a realistic number to have in 6 months.

I spoke with the residential mortgage specialist at a small bank in town yesterday, and in so many words he told me if I quit my W2 job there is no way to get approved unless I have 2 years of solid tax returns from my business.

My business income from last year was low because 5 flips carried into 2015, as well as us paying for some larger campaigns upfront in December 2015.

I will most definitely make more in RE this year even part-time then I will at my day job.  I have a smaller 3 bed house, 2 small children (2 yrs and 6 mnths) and we are planning on having more.  We have mostly outgrown out house, so if at all possible, I would like to be able to start looking at bigger houses to accommodate our growing family.

Is there any other way to get approved for a conventional loan that I am not seeing or haven't heard yet?

Because I am a wholesaler, the ideal situation would be to find a great property on a seller financed deal, even if it's retail, but we are going to be a little picky since we will be in this house for a while, so the odds of the perfect one just coming along would be slim.

I also just want to say this is a WANT of mine, not a need.  If I can make it work and get approved as a self-employed, great.  If not, we actually really love our house and our neighborhood, we are just outgrowing it.