Rental Property Refinance - HOW TO? w/o strong W2

[Ashley Pohlman]

Can someone describe how the process of refinancing out of a rental property works? What criteria do you need to meet? Does it have to be done through a traditional bank or are there lenders who don't look at W2 income?

We have done a handful of flips and would like to shift into the rental property world, specifically the BRRRR method. We have some capital and a hard money lender lined up (who we use on our flips) for renovations. Our downfall is our lack of W2's/steady income to prove to banks. My husband is a school teacher (makes about $82k/year) and I am a full time stay at home mom of three/interior designer/real estate agent/investor. My fear is that we will not qualify for a refi. Are there NON-traditional banks who will do a refi for us? I've heard about asset based lending companies. What are there general terms and rates? Any and all advice would be greatly appreciated!! THANK YOU!