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Updated over 4 years ago,

User Stats

29
Posts
7
Votes
John Hilyard
  • Rental Property Investor
  • Oklahoma, OK
7
Votes |
29
Posts

Need expansion advice

John Hilyard
  • Rental Property Investor
  • Oklahoma, OK
Posted

Need help navigating this situation: I have 11 rental houses. All cash flow. Just last year I started full-time into it. I pay myself the contractor fee on each house I fix up myself (5 houses last year). At tax time, my tax person said that all my self-pay for contactor fee had to be categorized as a deduction on income taxes. That in turn made my taxable income lower and now banks dont want to loan me more money. Thoughts or ideas to continue funding? I'm thinking of additional co-signer or private lending.. Also I have 32k equity in my last home I just completed and have rented.