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Updated almost 11 years ago on . Most recent reply

User Stats

40
Posts
14
Votes
Maverick V.
  • Real Estate Investor
  • Spring Branch, TX
14
Votes |
40
Posts

Qualifying for hard money

Maverick V.
  • Real Estate Investor
  • Spring Branch, TX
Posted

Hello, So I just relocated to the San Antonio area to start Rehabbing (fix and flip). I've been looking for a hard money lender and all the ones I'm finding have employment information on their application and they run a credit check. I moved here to start flipping full time so I currently have no verifiable income. I sold my primary residence in February, could I claim that as self employed income? I bought the house as a long term flip (lived there for 2 years) and made 49k tax free. The sale of primary residence was my first "deal" so I don't have a track record. Credit rating is fair so don't expect that to be to much of a issue, being as hard money is so posed to be based on the deal and not my credit score. Any insight would be much appreciated, Thank you and have a great day!

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