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Updated about 6 years ago,

User Stats

62
Posts
56
Votes
John Gach
  • Buffalo, NY
56
Votes |
62
Posts

New business Owner, getting a loan for rental propertys

John Gach
  • Buffalo, NY
Posted

So I finally completed my first year of being in business, I tired to lower my taxable income as much as I could being a business owner.  Now I want to invest in real estate/rental propertys (doubles).

I look on paper like I made less money than when I previously worked at a company, but I have more money than ever in my checking account.  I'm new to all this so Im wondering, do they look at my yearly income and then decide I didn't make enough money, so I'm not elidible for a loan, or do they take into consideration all my writes offs, and determine I am actually making more money than before?

Just curious if anyone has been in this position, and if they think I could even get a loan?

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