Capital... √ Income... √ Taxes... Uh Oh...

[Quaid Cde Baca]

I hate it when the rug gets pulled right out from under me... :(

I have a fair sized fund of capital for a purchase and rehab for a property in LA that I was shopping around for, excellent credit, and well over six-figure income... but with all the investment asset deductions that my company purchases each year, my taxes show only a whopping 36K taxable income for underwriters to use for a loan, and then toss out all other deducted income. I know, I know. I learned the hard way: pay minimal taxes or be able to qualify for a home loan, but you cant have both... Even if I bought cash (hypothetically), they said applying for a refinance would still be difficult (even at 75% LTV).

• $200K purchase + rehab fund

• 784 credit

• $9,000/ mo. actual income

• $2,600/ mo. qualifying taxable income (after deductions)

Has anyone encountered this situation? According to most lenders, I'm stuck for 2 years while I pay proper taxes to later qualify... OR, I find a co-signer. Any advice or work arounds? Anyone looking for a capital investor, haha?