Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Jacksonville Real Estate Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on . Most recent reply

User Stats

13
Posts
2
Votes
Konrad Wallerstein
  • Investor
  • Jacksonville, FL
2
Votes |
13
Posts

Obtaining a mortgage based on rental income

Konrad Wallerstein
  • Investor
  • Jacksonville, FL
Posted

Hello.  I am retired.  My income is from 11 rentals I own free and clear - 2 in Lehigh Acres and 9 in Jacksonville.  My property income shows as negative (-25,000) due to accummulated losses and my SS is not taxed so does not show.  In addition in 2017 I sold two properties (overseas) for a loss so my net income is definitely negative.  

I would like to obtain a mortgage on my primary residence, also in Jacksonville, but the lenders I have approached all base their decision on the net 1040 income so I do not stand a chance.  Can anyone suggest a lender at a reasonable rate who will base a decision on ability to pay?

Many thanks

Loading replies...