He always cut in at the wrong time. Lol! I be knee deep into the information. Then we miss out on the point you were trying to make. Lol! It's all love. You guys are the BEST🙂
I’m self employed and purchased my home using a VA loan. Business is a LLC S Corp >2 year tax filings. I learned that banks do not respect business owners. The process was horrendous.
Lenders need to change how they look at self employed borrowers. Just because someone is paid with w-2 doesn't automatically make them more likely to pay their mortgage. My ex husband got a mortgage when we were married and the bank didn't want me on the mortgage because I'm self employed. He had been at his job 20 years. He wanted the house when we split. The mortgage payment was cheaper than rent but the fool let the house go into foreclosure. Besides, w-2 employees get fired, sick, laid off, or quit their jobs sometimes. A w-2 and decent or good credit score doesn't guarantee they are a safer bet than those of us who are self employed. My husband got a mortgage and had been with his employer 5 years. He only stayed that long to get a mortgage when we were ready. He quit is job 6 months after we moved in and started his own (failing) business. These lender terms do not secure them to always get their money.
So pay tens of thousands to irs or pay tens of thousands on down payment and probably not have a nest egg for emergencies unless you have enough saved. I guess you might be able to refinance after a year
#AskMG Thank you for the continuous 💎s. Can you go over purchasing a new build? Things to look out for, things to ask, the process, anything you can share. Most of your content seems geared towards resale homes. Thanks in advance!
Zelle deposit is ghetto for any business. That is a terrible way to run a business unless you're lazy/scamming. They will assume it's scam/laundered/transferred/etc. I highly recommend getting yourself a real payment processing company like Square/Shopify/etc. Afterwards; If your customers can only pay with Zelle, then you need to make sure you create them as customers in Shopify/Square/etc. manually. Mark it as "invocie paid" and then transfer the money into your business bank account as a deposit later. That way the customer's details are shown in your logs to help you explain the bank deposits. That's just basic tax/business advice.
What if your a w2 employee and you also make a lil self employed money on the side can they both be combined as income if they're both filed on tax returns?
I'm asking a question for my elderly neighbor she has asked me would she be able to get qualified cuz she's on social security so she's wanting to know if she can get a house on her social security benefits
I only disliked this video cuz dude was on his phone while on an interview…. He often does this in yall videos, I just had enough. Leave ur phone alone (dislike)
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He always cut in at the wrong time. Lol! I be knee deep into the information. Then we miss out on the point you were trying to make. Lol! It's all love. You guys are the BEST🙂
this dude was giving valuable info and the host cuts in. He should be sitting there taking notes to ask questions after he gets done
I’m self employed and purchased my home using a VA loan. Business is a LLC S Corp >2 year tax filings. I learned that banks do not respect business owners. The process was horrendous.
It truly is
Is your house also in an LLC?
I have been sitting on a large cash deposit > 25%, trying to buy a house, but the banks will not work with me because I am a business owner.
I got my answer…. I can’t have my cake and eat it too…., dang it lol. Thanks for video.
Love the knowledge, sooooo many gems 💎 💎 💎 💎 💎
Time 6:40 is what i was looking for
Love the segments!!!
How would you BUY a primary residence under your business name/new LLC??? With bank statement loan?
Lenders need to change how they look at self employed borrowers. Just because someone is paid with w-2 doesn't automatically make them more likely to pay their mortgage. My ex husband got a mortgage when we were married and the bank didn't want me on the mortgage because I'm self employed. He had been at his job 20 years. He wanted the house when we split. The mortgage payment was cheaper than rent but the fool let the house go into foreclosure. Besides, w-2 employees get fired, sick, laid off, or quit their jobs sometimes. A w-2 and decent or good credit score doesn't guarantee they are a safer bet than those of us who are self employed.
My husband got a mortgage and had been with his employer 5 years. He only stayed that long to get a mortgage when we were ready. He quit is job 6 months after we moved in and started his own (failing) business.
These lender terms do not secure them to always get their money.
Thanks for the video Im pretty much on point with this video thanks.
So pay tens of thousands to irs or pay tens of thousands on down payment and probably not have a nest egg for emergencies unless you have enough saved. I guess you might be able to refinance after a year
lol exactly
Yes that Refi with perfect payment history is CLUTCH extremely necessary
Great vid! Can you all do some thing about the Audio? It’s so low , even though I have it all the way up. Thanks!
#AskMG Thank you for the continuous 💎s. Can you go over purchasing a new build? Things to look out for, things to ask, the process, anything you can share. Most of your content seems geared towards resale homes. Thanks in advance!
so could It be 12 months of Zelle deposits into your business account , or deposits from lets say your e-commerce store, could it be both?
Zelle deposit is ghetto for any business. That is a terrible way to run a business unless you're lazy/scamming. They will assume it's scam/laundered/transferred/etc. I highly recommend getting yourself a real payment processing company like Square/Shopify/etc.
Afterwards; If your customers can only pay with Zelle, then you need to make sure you create them as customers in Shopify/Square/etc. manually. Mark it as "invocie paid" and then transfer the money into your business bank account as a deposit later. That way the customer's details are shown in your logs to help you explain the bank deposits.
That's just basic tax/business advice.
Great video💯🔱
The video is too low volume I cannot hear ya strong black man intelligent turn up the volume
Yeah I can bearly hear
Why is this racist?
Can you use your bank statement on a VA loan as a 1099 employee to get around putting down the 20%
Can my wife own the business and I get a paycheck as W-2 employee and go buy the house myself?
What if your a w2 employee and you also make a lil self employed money on the side can they both be combined as income if they're both filed on tax returns?
I needed to hear this tho
I'm asking a question for my elderly neighbor she has asked me would she be able to get qualified cuz she's on social security so she's wanting to know if she can get a house on her social security benefits
Can you be a DoorDash driver and get approved for an FHA loan? What type of taxes do I need to file?
What about Your Credit score? What does it have to be?
Audio is to low
Do process mortgage for self employed in all 50 states? Bcos I don't live in NYC?
LLC how would you be able to get the loan then?
Right
Can you use Zelle income for non-qualifying mortgage?
No we need bank statements 1-2years worth.
I only disliked this video cuz dude was on his phone while on an interview…. He often does this in yall videos, I just had enough. Leave ur phone alone (dislike)
Maybe he is Gen 🧬 Z
This is kid is so lost lol