My concern comes when it comes to verifying income because I don’t know if I’ll be able to qualify given the current situation.

The total assistance amount available will depend on household need.To qualify, applicants must:Rent housing in the city of Sacramento or an unincorporated area of the county.Have experienced a loss or reduction in wages due to COVID-19.Owe back rent or have an inability to remain current on rent.Have a current household income that does not exceed 50% of Area Median Income (AMI).Not live in public housing or receive ongoing rental assistance.For more details on the program, visit www.shra.org/sera.

These will be well-qualified tenants that need a place to live.

Unfortunately, in order to qualify for favorable terms and rates, you really do need that W2.

@Cody Charnell congrats on the purchase but I was looking at your numbers and the refi will leave you with a lot in the property as refis right now are limiting to 70% LTV (75% for well qualified borrowers) which assuming the low end ARV of 800,000 that is a loan amount of $560,000 (70% of 800,000) which means all the reno and 90k of your purchase (about 190k) will be left in the deal.

Because of this I would most likely not have enough income to get approved for a larger loan needed to buy a multiunit.I live in California, and multi-units within the area and neighboring counties are more than I could qualify for on a loan(4k plus).

My thought is I would not qualify for a large amount needed to buy a multiunit property in my area (or neighboring counties)I live in California and the market is fairly high in price for Multiunits in a descent area that would allow me to house hack.

@Jack McWatters If you would qualify for a loan to build a 350k house you should easily qualify to buy the land.A credit union or bank or google land loan,some companies specialize in that type of loan.If the land is paid for it’s not too tough to get a construction loan to build the home.With carrying costs excetra It may not be that great of a deal.Since you asked about Private Lenders the best thing to do is to talk about what you do to everyone you know.Dentist Doctor friends relatives and tell them to pass it on.I have owned an LLC for two years and still have relatives say ( I didn’t know you bought houses)smhBest of Luck!

Even though there may be some conventional financing available, realize that many lower middle and lower income people cannot qualify for a conventional loan in doing a creative seller back note will solve their problem and provide you cash flow.As long as you qualified your buyers and they have demonstrable steady income, I see no problem in being able to resell seasoned paper.

@Jason VelieCareful planning is required for you to take advantage of the benefits provided by qualified opportunity zones.There are a couple requirements of a QOF1) Using capital gains to fund the business2) buying a property within a qualified opportunity zone3) proper allocation of business assets(QOZ property vs non-QOZ property)4) Proper amount of rehabilitation done to the property5) holding periodGood luck!