Rental income considered income after 2 years

[Jason Clinton]

What's up BP!... I have a quick question regarding rental income being considered income. I know that banks will not consider rental income (or any income really) for the first two years. My question is... Is this per property? Or from when you become an investor? Do you have to have a property for two years before it is counted as income or just be an investor for two years and then after that you can claim all properties as income? What constitutes the day you became an investor? The day you decided you wanted to start with real estate and start learning or the day you purchases your first investment property? If I start looking for properties and putting in offers but don't get one under contract for a year and then a year later try and claim that as income, is that income? If I have one investment property and I've had it for two years and buy three more can I claim income on all four even if I haven't had all four for two years? Just trying to figure out how all this works! Thanks BP!!

[Chris Eaker]

@Jason Clinton

I haven't had that issue with the bank I am using. It's a local community bank that does portfolio loans, so they are counting my rental income even on properties I've owned for less than 2 years.