Mortgage Notes count as income?

[Kyle Tolbert]

Hello,

I just sold one of my property and carry a note "$750K" with 8% interest rate. So the buyer is paying me $5,500 a month for 30 years. I just had the notes for couple of months.

Does this count as my income, just incase I need to buy another property?

Thanks

[Caleb Heimsoth]

Kyle Tolbert I could be wrong but I think for most banks once it shows on your tax returns that that would could as income. They may require 2 years of tax returns, it depends on the bank.

They will count rent so I’m not sure why this would be any different