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All Forum Posts by: Glenn Martin

Glenn Martin has started 6 posts and replied 17 times.

Post: Need Mortgage Advice

Glenn MartinPosted
  • Posts 17
  • Votes 1

@Nathan Gesner @Ayne C. @Anthony Rodriguez Yes, HELOC goes through the same scrutiny. I'm sitting on $1.2m in equity and cannot get access, though my business is doing well. They want to see two years of business income. Any other ideas, folks? Thanks, again.

Thanks, @Ellis Hammond. that's actually a great idea.

Thanks, @Chris Mason. I appreciate the response and suggestions.  

That's helpful feedback, @Raul R.  Thank you.  Alas, who to trust as a partner?!? ;-) 

I have four properties, two in NYC and two in GA (one is my home and one is self-directed IRA). Collectively, they're worth $1.3 million, all paid in full. But, I recently left my job to do consulting and I have less than a year as an entrepreneur. Hence, I cannot show income or qualify for an investment mortgage. What do I do, given that I want to continue to buy properties for passive income? I've looked at hard money no doc loans. but 1.) seems a shame to go that route when I have so much equity and credit score of 830 and 2.) it's EXPENSIVE and leaves little room for profit. Any ideas?