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.
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 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)
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
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.
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?
#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!
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.
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
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How would you BUY a primary residence under your business name/new LLC??? With bank statement loan?
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.
I got my answer…. I can’t have my cake and eat it too…., dang it lol. Thanks for video.
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 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
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
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.
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?
#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!
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?
Love the knowledge, sooooo many gems 💎 💎 💎 💎 💎
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.
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?
Can you be a DoorDash driver and get approved for an FHA loan? What type of taxes do I need to file?
Do process mortgage for self employed in all 50 states? Bcos I don't live in NYC?
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
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!
LLC how would you be able to get the loan then?
Right
What about Your Credit score? What does it have to be?
Thanks for the video Im pretty much on point with this video thanks.
Time 6:40 is what i was looking for
This is kid is so lost lol
I needed to hear this tho
Audio is to low
Can you use Zelle income for non-qualifying mortgage?
No we need bank statements 1-2years worth.
Love the segments!!!
Great video💯🔱