Affidavit of Support - Do I need a co-sponsor?

[bobreed2010 0]

My Fiance has her interview Sept 2 at the Embassy in Manila.

My dilemma is the affidavit of support.

Here are the facts.

I have 2005 tax return ($68,000)

I have 2006 tax return ($26,000)

I am a builder and lost money in 2007 so no tax return. ($54,000 loss)

My jobs in 2008 and forward are:

Forest Homes Independant Sales Rep (commission base income)

Century 21 Real estate Agent (commission base income)

Substitute teacher at 3 school districts (estimated income only)

I have 2 rental properties that generate income ($30,120 total yearly)

On my I-134 I list $166,900 in personal property (I own an airplane + 3 vehicles)

I have the 2 homes (rental) plus my residence. Total equity in those is $300,000 as listed on the I-134.

My issues as i see them are no current stable income & no tax return for 2007.

Do I need a co-sponsor?

Thanks in advance,

Bob

[janessnroland 0]

i am no expert...but what was your GROSS income in 2007? Just cause u lost money does not mean that u did not have a high gross income, not NET. Send all financials that u can it will help. you should be fine

[przy 0]

With all of your assets... you should be fine. Is it just you and your fiancee or do either of you have any kids? Lastly, do you have any one else you financially are reponsible for? If not, then you guys are still fine. Even with kids on either side, you should be okay!

[Penguin_ie 5,993]

That should be no problem, you can do it on assets alone (assuming there are no large mortgages on the properties). We have a 4 person household, and a 183'000 home with no loan on it and a bank account with less than you have and the embassy took it no problem.

[pushbrk 12,824]

i am no expert...but what was your GROSS income in 2007? Just cause u lost money does not mean that u did not have a high gross income, not NET. Send all financials that u can it will help. you should be fine

This is not correct. A business loss reduces "total income" on any tax return by the amount of the loss. For a business or the self employed, "gross revenue" doesn't show on the 1040, gross profit or loss does. The OP knows this, of course. I think I'd file a tax return anyway, even though there's not tax liability.

The assets will carry the day, provided they are adequately documented if there's no tax return, you'll need to includde an explanation for why you were not required to file one.

[bobreed2010 0]

Yes she has 2 kids so the 125% poverty level is $26k. I am still above that with the rental income.

Thanks. Bob

With all of your assets... you should be fine. Is it just you and your fiancee or do either of you have any kids? Lastly, do you have any one else you financially are reponsible for? If not, then you guys are still fine. Even with kids on either side, you should be okay!

[bobreed2010 0]

Here are the exact numbers.

ADDRESS MARKET VALUE MORTGAGE BALANCE EQUITY

549 Paradise Rd $299,900.00 $235,000.00 $64,900.00

398 Waters Rd $140,000.00 $0.00 $140,000.00

1756 Deerford Way $225,000.00 $130,000.00 $95,000.00

TOTAL $664,900.00 $365,000.00 $299,900.00

That should be no problem, you can do it on assets alone (assuming there are no large mortgages on the properties). We have a 4 person household, and a 183'000 home with no loan on it and a bank account with less than you have and the embassy took it no problem.