BRRRR question - how to get around having 2 years of tax returns?

[Piia Hanson]

Hi all - I quit my W2 job last year and launched 2 businesses, 1 company for my real estate and a 2nd company for my consulting work. I've flipped one property and now own 3 others - 2 are cash and 1 has a mortgage. I'd like to try the BRRRR strategy with one of the cash properties but banks/lenders tell me they need at least 2 years of tax returns from my new businesses for me to get the loan. Any thoughts/suggestions/guidance on how I can mortgage one of these properties without having the 2 years worth of returns? Thanks!

[Brian Garrett]

You'd need to get a commercial/portfolio loan rather than a conventional Fannie/Freddie loan.

I'd suggest you call around to all of the small local banks and credit unions in the area to find the best fit.