Is a W2 needed for a commercial loan?

[Dean Valadez]

I am looking to leave my W2 because it is an extremely intense and unhealthy work environment. I would like to get into the real estate industry, don't have any properties yet (so no rental history), have enough capital for a good downpayment for even as large as a 16-24 unit (although I don't know if I will go that big right away), but am concerned that not having a W2 will prevent me from getting a commercial loan. I know a lack of W2 will prevent me from getting a residential loan for smaller rental properties (unless someone has a suggestion), but I do not know about the ins and outs of commercial loans. My credit score is typically in the mid-800's and I have a long, solid work history in the W2 world. Any one have suggestions or answers? Thank you

[Greg Scott]

Can you get a commercial loan without a W2?  Absolutely.  However, the bank will want to see you have a strong balance sheet or a strong track record of managing properties, or both. 

What if you quit your job, buy an apartment, and then find you hate running an apartment (and aren't particularly good at it)?  That is crash and burn, life in the toilet sort of problem.

I'd find a bridging strategy.  One is to get a different job, even at lower pay.  If it has more time flexibility that is a huge help.  Build some experience in real estate investing.  Build a track record.  Know what you are getting into.  Every step in that direction takes you closer to your goal without the "going down in flames" risk.