All Forum Posts by: Jason Duprat

Here is my situation. I am an Anesthetist, make great money and have a great credit score. The problem I am running into is that I recently moved to ABQ for a new position which is 1099. My contract is an Annual, auto renewing contract paid at an hourly rate. Because I am a new 1099, most banks won't talk because Fannie and Freddie say 2 yrs are required for 1099 and most banks are selling loans to the big two. I am doing the line of work I was doing in orlando before I moved. My wife and I are looking to buy, ideally a multi unit and do some Reno and house hacking by living in 1 unit.

Does anyone has a recommendation for portfolio or hard money lenders in New Mexico? Thanks!

Yes you are totally correct that we should be paid w2. However 1099 is very common practice in the medical field. Although, I have heard on anesthesia forums that the IRS has started going after the groups with this pay structure and have starting with the biggest companies. 

The way I understand it, is that Fannie and Freddie buy so many loans that all the other banks conform to thier rules so they can sell them off.

Hi everyone, I need your help!

I am an Anesthesia provider and earn a great salary, have a 750+ credit score and low debt to income ratio.  However, I am still having a hard time with financing because I switched from a W2 position to a 1099 position in Jan of this year.  Seems like all the banks want 2yrs of 1099 income history before they will talk to you. My 1099 position is the exact same job title as my previous W2 job and I have an annual contract that auto renews and the contract shows that I am paid hourly.  The only reason I am 1099 is because my current employer feels it is better for them as they are shielded from any potential malpractice lawsuits. 

Does anyone out there know any lenders that look at a borrow on a case-by-case basis rather than following the ridiculous Fannie/Freddie guidelines? Any suggestions are greatly appreciated. Thanks!

Hello everyone. I was hoping someone may be able to provide recommendations for timely, professional and fair priced contractor for the following:

Major stucco repair

Driveway repaving

Replacing electric 

Replacing 80 year old plumbing

Thank you for helping!

Hello everyone,  I am new to ABQ and have been renting since Jan of this year.  For the last 5 months I have been analyzing deals weekly if not daily and I finally found a second place worthy of making an offer on (we were out-bid on the first property).

We plan to place an offer today and combine house hacking with the BRRR method. The property has 2 units and a third that could potentially be rented as a studio. However, I am not familiar with egress window regulations in Albuquerque as this "studio" is in a finished basement. Does anyone know what the egress window regs are for a basement unit?

Are there any websites that can be used to verify square footage? Some listings on the property say 1700sq/ft but one says 2100sq/ft. We are not sure if the basement wasn't counted or if maybe one listing included the basement storage area in the sq footage. The property appraiser website doesn't include sq/ft.  The first time we went to see the property we couldn't get into the one unit because the key was missing, so we were not able to physically measure. 

Anyone has a suggestion on other places to look online to check sq footage? Thanks for all the help!

@Susan Gillespie I am looking for rental properties to hold long term. Either Single family or 2-4units.

Does anyone have recommendations for a real estate agent in the Orlando area that works with investors? 

Thanks for the info! 

Does anyone know a good CPA for real estate investing in the Orlando Florida area?