Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 6 years ago,
New business Owner, getting a loan for rental propertys
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?