Flipper/Rehabber · MI · Member since 2019 · 2 posts · 1 vote
Hi Everyone! Excited to be making my first post here...I left my full-time job earlier this year and am doing REI full-time. I'm starting with flipping for cash flow and because I didn't think I could get a mortgage on a property until I have a couple years of self-employed income. Is that correct? Is there another way to do BRRR? Educate me please. Thanks for your help for a newbie!
Lender · Irvine, CA · Member since 2019 · 6 posts · 3 votes
6y
Always have a list of lenders (banks/credit union / commerical lender) in your lists. Depends on the scenarios of the project you have a go-to lender. Typically commercial lenders underwrite heavily on the asset / your track records rather than income (But your current liquidity is important too!)