Hi! 32 yrs old from Westchester NY. I found a co-op (2 bedroom) that I absolutely love. My agent is submitting the offer tomorrow, and she is fairly certain it will be accepted. However, I’m worried about being approved by the board because of my financials. To summarize, I have all of the cash plus way more left over. No debt whatsoever, no car payment, 758 credit score. However, my salary for 2025 was only 70K. Maintenance is $1500 per month.
Since 2022 I was only working part-time because I was helping manage our family properties (2 total) and not getting paid for it, while my dad was sick and then he passed away. I dog walked and babysat in the evenings and saved a shit ton of money because I was still living at my parents house. But my tax returns for 2024 look like I didn’t make shit. When dad died I then became the owner of the properties with my brother, but all of the income went to my mom for her expenses. We did not think she was going to pass away so quickly, but she did so now we are both owners. We inherited our parents home (160K left on mortgage, it’s for sale for 1m) and a condo in Florida (paid off and brother pays maintenance). I also inherited quite a bit of money before my dad passed away because we had a building that we had sold. When it comes to our rental properties, they are doing well, but we decided we wanted to be conservative for now and build a nice reserve before we are taking any income out. Business tax returns are not good bc we had a huge fire in 2022 and didn’t get back on track until 2024 and start making money again. If that is not enough of a whirlwind, before my dad got sick I was actually living in Miami and running a successful private dog daycare with a close friend of mine. But I was getting paid in cash lol. My tax return history is kind of trash….
So, I am really good for the money. But I am worried about my tax returns. The maintenance on the condo is $1500 a month and that includes taxes and utilities besides electric electricity. Making 70K at my current job, with all of my expenses life has been pretty damn good because I have very few.
I’ve been through the ringer these past few years but ended up being a financial winner and I honestly die for this co-op, but I’m just wondering what is the best way to show that I’m not just some kid that inherited a bunch of money?