Cash Out Refi- Low Doc/No Doc?

[Masa N.]

I am going to be doing a BRRRR and the last step of the cash out refi is where I run into issues. I am self employed and can't produce much in terms of tax documents etc. I can show bank statements and have excellent credit with little to no debt (beside personal mortgage). In this situation, what other ways can I refi and get cash out? Thank you

[Andrew Syrios]

Originally posted by @Cameron Tope:

@Andrew Syrios most self-employed folks try to minimize their income on paper to lower taxes. But this, as @Masa N. is finding out, is a double edged sword. 

Masa, how did you purchase the property? Hard money? If you have high interest debt on the property, you could go to a private lender who does longer term financing they'll charge ~6-8% (rates I'm seeing now). This will give you some time to figure out how to refi. 

Otherwise, I would just keep calling local banks and credit unions. 

Best of luck!

Maybe I misread his post. I thought he meant he couldn't have the tax documents, not that they didn't show sufficient income. That's a good point though. Double-edged sword indeed.