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Updated over 4 years ago on . Most recent reply

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10
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Paulina Espinoza
1
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10
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Self employed and equity in home

Paulina Espinoza
Posted

Hi everyone, I am a newbie in investing in Small Family Rentals. After more than a year, finally moving from my analysis paralysis, I made an offer on a duplex . Since my house has equity, at least $200,000 from an appraisal from last year, my plan was to use the equity to make the down payment.  Since I am self employed, mostly paid in cash, my income tax shows only an average of what I made per year because my income varies as self employed.  I can not get a loan because my income tax shows low income in average.  With this home equity, what else can I do? I want my house equity start working form me.  I really appreciate your advice. 

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