Under 2 years can't count Rental income
1 Reply
Tai Nguyen
posted 5 months ago
Bought my first Income property in March. Get about 19% ROI. just recently applied to Refi and said my rental income cant be counted as income with out 2 years of taxes on it. Im not worried about the refi, but im concerned it will slow me down in purchasing my 2nd Rental id like to get within a year or so. anyway around this or should i just wait 2 years? I dont want to always wait 2 years between buying a property.
Cameron Tope
Property Manager from Katy, TX
replied 5 months ago
Tai,
Have you talked to another bank?
Every bank I've dealt with would allow me to count rental income as long as I could provide a signed 12-month lease.
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