Newbie Investor looking for advice!
Hi there, I'm new to BiggerPockets and am looking for advice on cash-out refinancing.
I'm a newbie, but have gone all in with real estate investing and have just closed on 2 properties I plan to rent long term. There is a real shortage of rentals in Colorado Springs.
I paid cash from overseas funds (I am a permanent resident) and am now wanting to cash-out refi to buy additional long term rental investments and BRRRR.
The challenge seems to be around how to declare overseas income and proof of income. One lender has asked how I funded the purchases.
I also have a mix of W2 and 1099 tax returns for the last 2 years only.
Has anyone had any similar experience?
How does the rental income come into play? ...and does anyone have any advice on the types of lenders who can assist?
Once I get over this hurdle - I'm sure financing will be easier?!
Thanks in advance,
Nik