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.
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.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you