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Updated almost 10 years ago on . Most recent reply
![Brandon Duff's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/274109/1621440650-avatar-brandynd.jpg?twic=v1/output=image/cover=128x128&v=2)
Do I have to wait till next year to invest?
I own my own business and as many self employed people do, they write off as much as they can.
I've learned lenders don't like this.
My W2 is $25,000
K1 is around $11,000
Car payment is $498
Credit card #1 is $15 minimum payment
Credit card #2 is $25 minimum payment
Fiancee works for a property management company so we have our rent comped
No other debts
I currently have $26,000 saved
I want to get into a property between $118,000 and $130,000
I plan on renting it out for between 900-1100
Single family home
I will be buying out of state
My statements show between $5000-$7000 a month of income coming in. ( I'm not writing off anything anymore, besides car and rent for my business)
No lenders will lend to me I've tried 4 because my debt to income from tax return the last 2 years don't show enough ( damn self employment)
Hard money lenders on the website says declined because no rental experience and too high DTI..
What options do I have?
I don't feel like partnering.
Most Popular Reply
![Nick Patterson's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/159553/1621420194-avatar-kalerealty.jpg?twic=v1/output=image/cover=128x128&v=2)
Get a multi-family property of 5+ units
Banks will lend based on building cash flow not yourself
Now is the time to always buy, as long as the numbers work