Did you do this for your first loan?

[Jonathan Taylor]

Hi folks, I’m planning to buy a multi family in so cal and ran into an issue with my lender. I make high 5s a year but am an independent contractor so I write off a lot of what I make to take best advantage of taxes. I get that my AGI will be less than what I earned, basic tax stuff here. The lender took the lowest number for my income at 60s and said max I can borrow is 450,000 even though I only had 17 in write offs. That buys nothing in LA and is laughable because the bottoms barrel multifamily is 550,000. Seems like I’m running into this with other lenders and am unable to get my loan amount higher, any suggestions? Would love an experienced investors’ opinion on this. Cheers Jonathan