Double My Salary Through 1099 or Keep W2 for Easy RE Financing

[Rebecca B.]

Hi everyone,

I'm posting here because I always get such amazing feedback, so here goes... 

I work in tech, earn low six figures and we're slowing paying down debt and planning purchase a small MF next year. The plan is to purchase it and move into it, add value, and refinance and move on to the next one the year after that. 

However, I've just been approached by a talent agency to work as a 1099 employee earning almost double my hourly rate. The appeal of earning that much even with having to pay my own taxes and health insurance makes a lot of financial sense. But will it make it more difficult to qualify for a loan? I'd be able to save a lot more and more quickly, but I think banks have a long way to go when it comes to recognizing 1099 earnings. 

Anyone here switched from W2 to 1099? If so, were you able to qualify for conventional financing? Were you able continue investing in RE? Did you have to find alternative types of financing? Were you able to keep building your RE portfolio?