Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 7 years ago,

User Stats

26
Posts
4
Votes
Gabe Sirkin
  • Pittsburgh, PA
4
Votes |
26
Posts

Loan for 15% cap 4-unit. No W2 or tax return (student in 16')

Gabe Sirkin
  • Pittsburgh, PA
Posted

How could I get a loan in this situation? I'm a first year commercial real estate agent so I'm 100% commission. I found a perfect first deal for my self that I put under contract. It's a cash-flowing, 15% cap, 4-unit property. Everyone I spoke with said I'll need at least w-2, last year tax return, or pay stubs. Since its my first year and I'm 1099 I don't have any of those. It's a good deal though, are there any lenders that just look at the numbers and my credit/income of THIS year.

Do I have to wait to file my 2017 taxes? Or is there another route I could go? I'm under the impression by February/March I can get a traditional mortgage based off my income from my 2017 return. How can I hold off until then without losing the deal?

Loading replies...