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Updated over 6 years ago on . Most recent reply

User Stats

6
Posts
4
Votes
Mathew Nebel
  • Rental Property Investor
  • Cleveland, OH
4
Votes |
6
Posts

Loan vs cash For first property?

Mathew Nebel
  • Rental Property Investor
  • Cleveland, OH
Posted

Hey there, In a cpl weeks I will be relocating to the Cleveland Area where I plan to buy my first duplex . I'm self employed and only really make about 30 to 40k on average, but I generally write off a lot of my income so on tax returns it appears I am essentially in poverty. I'm wondering if I should just write off less this year to up my income and try to qualify for a more conventional loan or not? The problem is all that cash spent on taxes that I could be saving. 

Are there any decent options for funding in my situation without high income via tax returns? 

Or should I just buy a home cash and try to refinance later on? is this any easier or will I have the same trouble finding a loan to refi?

Please help with some insights or guidance. I haven't filed taxes yet this year and I need to know the best way to go about it . I'm  willing to waste money on taxes if its my only viable or easy option for finding. 

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