I used stated incime because I don’t pay myself I am gorwing my RE holdings instead through sweat equity. I don’t take commission when I buy property. Because I would pay inocome and property taxes on it. I am not after money I am after solvency through rents. First step build my own hosue cash w/o pay. Second step use stated income loan to buy properties I see That I can work for free on for 1 year eating 20k of loan proceeds to live on. The things i bring the table in splitting lots,drawing my own plans , operating heavy equipment, and performing more thatn half of the construction and all the management of a house are worth at least 200k a year. I don’t feel bad stating my income at 50%LTV against my assets and nobody else cares.

What lenders do care about now and why the caller couldn’t get a stated income loan is because reserve requirements are now three times stated income and the probably didn’t have it. If I have to pay income tax on my rentals or capital gains on sales as I go I haven’t cheated anybody on taxes.

Before If I am correct state income require a bank acct that showed a little cash flow. I got a 100% LTV state cash out and helor a few years ago so I could live in my hyperinflated house to pay for a splittable lot and start building my new house and sold that at the peak.

Ps: I edited this thing once I hit a key wrong or something and it got lost. I think it makes sense…gotta go.