Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 4 years ago,
Pre-approval: Seeking advice
To quickly discuss my situation, I am in my final semester of college lacking the proof of income to qualify for a loan. I'm looking to BRRRR and have a private lender lined up ready to fund my first deal. I have not searched for pre-approval yet as having no income will be a major red flag for loan approval and that is why I am posting here to see if anyone has recommendations.
Should I form an LLC and search for portfolio lenders willing to lend to the entity and not base loan approval on my current status?
In June, I have a position lined up as a registered nurse solving the stable income issue, I already have a +700 credit score, but I'd still be missing a solid employment history. Maybe this information can guide some of the recommendations.
Any advice is much appreciated.