Updated over 8 years ago on . Most recent reply
Newbie Here with some investment questions!
Hi everyone! I am very interested in investing in real estate. In fact, I have already purchased my first home back in January of 2014 (FHA), a modest starter home. What are my options for "my next step"? It was not planned, but I quit my day job for personal reasons and actually started studying real estate. I am finished with the course and take my state exam next week. Fortunately, my significant other lives with me and helps pay the bills, so I can rest *somewhat* easy until my first commission.
Anyways, here is my dilemma and where I lack knowledge. Now that I will be "self-employed" or an "independent contractor", will this hurt my chances of investing in another property? Ideally, I'd like to keep my current residence and purchase a second piece of property, preferably a duplex. Is this an impossible scenario? If so, I can always sell my current home, as values have significantly gone up -- but when I get another loan, is the fact that I am self-employed now going to be an issue?
Suggestions? Feedback?