Does a W2 from your own corporation count?

[Brandon Heath]

Hello BP!!

I always see comments and complaints about investors not receiving a standard job that they receive a W2 from. This of course makes it difficult to get conventional financing for their next deal. 

I currently have a steady day job that I receive a W2 for. I have been there for almost 10 years now. I also have my photography business that is set up as a corporation. I started the corporation 5 years ago and have been paying my self as an employee (w2) for the past 2 years. 

My question is, since I am the owner and employee, will banks not look at this as me having a steady job? I admit the amount I bring in is much less than the 9-5 job but I don't know how much longer I will stay there. I would love to max out my available mortgage limit (5 properties) but I think Ill be lucky if it get one!!

[James Park]

Yes,

J Scott is correct that you need to 2 years of tax returns. The lender will count both your W2 and your K1 (net profit) as your income.