All Forum Posts by: Shaun Weekes

Is there a lender here or some one who knows how to handle 1099 with 1.5 years under them? We’ve increased our income substantially but no one will work with us because we are 1099 and under the 2 years. We are seeking guidance because a lender said it was no big issue and approved us, then we found a house, paid for inspections and now he’s saying we don’t qualify because we only have 1.5 years and not 2....we told this lender that on day one!! Now we are under the gun and can’t figure out a solution...help, please help.

Hello, so I'm still working on getting my first investment property and it's under an FHA loan. I won't be really living at the location but I'd like some feedback on if it would be a difficult procedure to put the property as an LLC. I'd like to hear your thoughts on this if you think it's a great idea and also any steps going forward to having it as an LLC investment property.

@Shaun Weekes

Thank you so much. I have been pre approved and I’m trying to get myself a conventional over a fha so that I don’t have to worry about the extra mortgage insurance payment! Is that a good tactic to use or should I stick to fha and have a lower down payment

Hello, 

I am fairly new to the bigger pockets forum, however, I have been listening to the podcast for the last three years. I have been working with two realtors in order to find myself a property that would cash flow and that I can utilize the BRRR strategy, but the numbers make no sense. 3bedroom, 2 bath, 1200 sqft property was selling for 300k and it finally sold for 380k, granted this was a move in ready. Is there any tips y'all can give me in regards to strategies that I can use to get properties in my pipeline? Also my realtor are not investor so the properties they are sending me are rarely BRRR material.

Thank you!!!

Hi Shaun! Are there other strategies/approaches to forming a good relationship with local lenders? I know it can be difficult for some people to defer their RE goals by a year or two simply because they have not been at their job for very long. In my case, I have been with my company for less than 6 months since graduating college and looking to house hack in the next 6 months; what would you recommend a viable approach to getting the lender closer to working with you?

I've spent the last couple weeks looking at deals out of state (Arizona) with the intent of purchasing my first rental property. I've been with my current employer now for about 1.5 years and was with my previous employer for about 2 years. Do lenders typically look for a certain number of years of work history with your current employer? I'm looking for a new job so I'm wondering if I need to wait...

Anyone else struggle with completing the BRRRR process due to a small loan amount? I have to BRRRRs in play right now, but I can't find a lender that will cash out refi a loan <$75k to save my life.

Anyone else share my struggle, and/or find a solution?