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Updated over 5 years ago,

User Stats

342
Posts
55
Votes
James Mudd
  • Real Estate Agent
  • Realtor - Dallas, TX
55
Votes |
342
Posts

Financing a rental - self employed

James Mudd
  • Real Estate Agent
  • Realtor - Dallas, TX
Posted

I am looking to buy my first rental.  My question is the financing.  I am a realtor in business for 7 years.  6 of those years were part time real estate.  I went full time about 10 months ago.  I was making around $100,000 per year from my full time job and averaged around $40,000 per year from real estate.  Now I am real estate only and in 2019...year to date I have made around $80,000.

Is there a company that will finance a rental for me?  Since I have gone full time and don't have a W2.  I know I need 2 years self employment taxes to prove, but since I have been in real estate 7 years, can they use my past full time income to help qualify?  Your responses are highly appreciated!

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