Stella Guan
Non QM Loan for Newly Self Employed
Hi, I'm newly self-employed (~6 months) after resigning my W2 job and starting a business. Been trying to purchase a single family home in California as primary residence. Due to Covid, most non-QM programs have dried...
Stella Guan
Non QM Loan for Newly Self Employed
Hi, I posted in the lending forum but was advised to post here as my question is California specific. I'm newly self-employed (~6 month) after resigning my W2 job and trying to get a loan to purchase a single family r...
Jonathan Cevallos
Utilizing my 401k with an old employer
I have a 401k plan with an employer I no longer work for in 3 years. I want to use the funds for my second deal, but I don't want to pay the early withdraw fees, etc. What are my options?I know I can't take a loan out...
Morgan Stelly
Self-Employment History - Less Than 2 Years
Hello! I have many years of W2 income with no gaps. Recently (April 2022) I left my W2 job to start working for myself. I have made a consistent income from my client of around $11k/month. I tried applying for a conve...
Darian Richardson
Refinancing While Self Employed / Assist Based Lending
Hey BP,
I am in the early stages of preparing/planning for my 3rd property to purchase in Q1 in 2022. I plan to cash out Re-Fi my duplex; currently, I owe 159k with an estimated appraisal amount of 290k. I plan to u...
Shawn Root
Qualifying Self-Employment Income for Solo 401k
So, what income qualifies you to be able to form a solo 401k? They sound so much better than a self directed IRA, that I'd like to go this route if possible. If I had a rental property outside of the retirement acco...
Aaron Grimes
Help with 1099 self employment loan options
I am a courier that drives A LOT. my gross annual income is around $75,000 but due to mileage my net income on my taxes is around 15,000-20,000 with my actual income after all expenses realistically being around $40,...
Kirsten Milliken
What's a self employed person to do?
I just called my mortgage company to inquire about refinancing my mortgage and was told that lenders are not giving loans to anyone who is self-employed due to the pandemic. This is ridiculous! My income has remaine...
Nick Cascio
Less than 2 years of consistant employment
Hello all, This will be my first post on BP, and will serve to pose a question to overcome my first hurdle on the road to owning and home and gaining beautiful equity. I'm 24, working in the Texas oilfields, have a Me...
HJ Wang
self employed 401k contribution when net loss
Hi, if my self-employment, single member LLC is at net loss this year, and I am the owner, can I still contribute to my solo 401k? I understand I can't make the company contribution because of net loss, but what about...