New real estate agent question

[Hud Malik]

As a new agent starting at a brokerage, how does someone get qualified for a pre-approval letter without having consecutive pay stubs if you’re trying to purchase a multi family property? Can someone break down the requirements for me please?

[Brad Bellstedt]

Ah, ok. I gotcha. I'm sorry. I may have misread the your question as well. I just bought another property myself as a non W2 earner so I can tell you from experience that it is all based off of your taxes. Your accountant will tell you that the more you write off on your taxes, the more you may save on your tax bill but the less it shows as a profit that you are keeping. Something that will be important to a lending institution when deciding your credit worthiness. Tax records, a profit and statement and I believe they ask for access to your bank account records for verification is what I've seen in my observation, **but of course, I'm not a lender so you should double check with someone who is ; )**