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Updated over 2 years ago on . Most recent reply

User Stats

18
Posts
5
Votes
Miles Atkins
  • Investor
  • Michigan
5
Votes |
18
Posts

Mortgage options for a 18 year old

Miles Atkins
  • Investor
  • Michigan
Posted

I am 18 and I have been doing a bit of reading on real estate investing and have came across information on acquiring loans. Most loans to my understanding need 2 years of tax returns. I have a business that is doing very well and have a steady stream of income and want to acquire an investment property. I guess my question is how can I get financing for a property if I have only had a business for 1 year. I have read about cash flow mortgages and I know I don't need tax returns for that but I was just wondering what other financing options are out there. Does hard money require tax returns? Can I buy the property through a LLC and use business tax returns? Just reaching out really to see if anyone has any answers. Thanks!

Most Popular Reply

User Stats

326
Posts
536
Votes
Carlos Valencia
  • Lender
  • 92703
536
Votes |
326
Posts
Carlos Valencia
  • Lender
  • 92703
Replied

Hello Miles you can use business tax returns. Jut be careful how much you write off if your looking to qualify. The more you write off the less income you will show which will make it more challenging to qualify for a good amount.

@Albert Bui @Matthew Kwan

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