Financing, tax questions - what to do as self employed?
Hey!
I recently purchased my first property, a 3 bed/3 bath zero lot line (shares a wall with another house but no HOA) in Nashville. I'm fixing it up and planning on renting it. I'm self employed, and had a co-signer on it - ideally, I want to refinance at some point in the next two years, get the co-signer off, hopefully get some cash out of it and do this again.
My question is… what steps do y’all think I should I take today to get there? Mostly with taxes and stuff like that - qualifying for a loan is definitely the biggest obstacle because of the whole self-employed thing. I’d prefer not to pay a ridiculous amount in taxes just to qualify, but it seems like that might be the only option.
I’m still new at the whole real estate thing but really enjoying fixing up the house and I’m just looking to the future. Any help is much appreciated!
Thanks,
Sam