What would you do???
Hello!
Just when I started planning to buy my first investment property, I got laid off from my job. The good news is I got my real estate license and now I'm full-time in real estate and loving it! The bad news is, apparently it will be at least two years before I can qualify for a mortgage because I'm an independent contractor and don't have a salary.
I am so eager to get started, and really want to buy a rental investment property. The ones I'm interested in go for about $300K for a triplex (or triple decker as we call them in MA.) I have about 100K in savings which I can use as a down payment, or could use in some other way if it made sense.
I would love to hear your advice!!! Should I just wait the two years, and grow my savings and education? Should I try to buy this year and get creative with the financing?? Should I use my current savings to invest in some other way?
What would you do???
Thanks in advance,
Amber