Ready to leave my W-2

[Heather Schmidtknecht]

I started purchasing rental property in 2018, and I’m ready to transition to this full-time within the next 2-3 years, which means leaving my W-2.

I’m posting here to gather some insight as to how to prepare myself, as I still have two pre-teen children at home.

How do I position myself for future financing without a W-2? I’m guessing net income from my portfolio would be considered as well as equity within my portfolio — anything else??

How accessible is affordable but comprehensive health insurance for a family outside of the W-2 employer/employee setting??

Are there other things I need to be planning for this transition??

[Malcomb Stapel]

@Heather Schmidtknecht  do you have a good relationship with your current lender? You will probably want to sit down with them and discuss at length what your wanting to do, then solicit their input on the situation.