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Updated over 5 years ago,

User Stats

82
Posts
23
Votes
Navid A.
  • Rental Property Investor
  • Fayetteville, NC
23
Votes |
82
Posts

Can you still BRRR if you don't have a W2?

Navid A.
  • Rental Property Investor
  • Fayetteville, NC
Posted

Evening BP, 

I'm transitioning out of the military in a year. Curious how difficult it will be (or not) to continue buying properties using the BRRR method when I leave my full time job. I have built up enough cash over the years to buy more property in cash and refi, but will the banks grant me the refi without having a full time job? For clarification, I have a LLC and have a small rental property portfolio. I intend to "work" full time for myself buying rental properties and making my money work for me. Any insight or feedback on this? I know banks will generally accept rental income as a form of income, but this typically doesn't kick in until about 2 years from what I've researched so far. How can I continue buying properties without a W2 or a source of income aside from my cash savings and small rental portfolio? Any and all comments are welcome as I'm trying to plan out my transition. Thank you all in advance!

-Navid

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