Refinancing While Self Employed / Assist Based Lending

[Darian Richardson]

Hey BP,

I am in the early stages of preparing/planning for my 3rd property to purchase in Q1 in 2022. I plan to cash out Re-Fi my duplex; currently, I owe 159k with an estimated appraisal amount of 290k. I plan to use the cash-out refi capital for a down payment for another property in metro Atlanta. 

I am facing one hiccup that slows me from refinancing. In 2020 I became debt-free and decided to leave my W-2 job and work for myself. This was a significant goal of mine, especially since financial freedom is at the forefront of it all.

However, I am noticing that finding a lender that will refinance my properties in my situation is hard to find.

Has anyone ever faced a situation similar to this, and how did you overcome to refi or purchase a property?

Also, many online resources have pointed me to "asset-based loans," and " portfolio lending," Has anyone ever dealt with any of these loan products, and what companies do you recommend?

Thank you,