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Updated about 10 years ago on . Most recent reply

User Stats

120
Posts
24
Votes
Brandon Duff
  • Investor
  • Dallas, TX
24
Votes |
120
Posts

Private Lender needed/ Self employment woes

Brandon Duff
  • Investor
  • Dallas, TX
Posted

Hello, 

I am looking at getting into my first property as a rental. I have about 25-30k saved and looking at getting into a SFH which is 255k give or take.

My credit score is 760 

Being self employeed I made the mistake of writing things off which lowered my k1 and paying myself the minimum on my w2. 

So what banks will lend me isn't enough. 

I can pull reports on my business over the last two years to show proof of income if you wish. 

Problem is people want "skin in the game" which if I had 30% or so... I would just go with a traditional loan. 

I don't want to partner just like I don't want to work for anyone else, I enjoy my freedom.

I make plenty of money however don't show enough on my business income.. 

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