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Updated over 7 years ago,

User Stats

7
Posts
1
Votes
Teresa Hunt
  • Investor
  • Coffeyville, KS
1
Votes |
7
Posts

Can't get mortgages due to new self-employment status.

Teresa Hunt
  • Investor
  • Coffeyville, KS
Posted

I'm ready to get into real estate investing full time, however, I've recently gone from being an employee to being self-employed. Now I find that I can't get mortgages on properties until I have two years of tax returns to prove that I'm not broke.  I have money sitting in an account at Edward Jones, but that doesn't seem to matter. I currently have to use owner financing which leaves me with high down payments and high monthly payments. This ties up my working capital and limits the number of deals I can do.  I live in a small town where there is much money to be made on rental income.  I'm ready to do this.....but I need som help ASAP because I'm missing out on opportunity after opportunity. I have drive and passion. I'm not afraid of hard work.  I have a general contractor in place. I'm ready to put on my overalls and get some forward momentum! Thank you!

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