How to purchase our first SFH in 2019...HELP!
Okay so here is the deal. My wife and I are 22 and are looking to purchase our first home. We want it to be a rental after a few years so its doesn't have to be nice by any means. We have just under 50k saved up and we should have another 50-60k saved by the time we go to purchase(totaling around 100k) so we should be okay to put even 20-40% down on a property.
Here is my problem, I started a commission job in April of this year. It is the first commission job I've ever taken and I know for most conventional loans they require at least 2 years of proof of working for the same company and income statements. Yes the money is flowing consistently and yes I am doing well, but it has only been 8 months, and when we got to buy it will have only been about 20 months. My question is, will we be able to get pre-approved for a loan? Will I need to go through a hard-money lender? What is the best way to do this? I'm not in love with just stacking my bank account, lol I want to invest it in real estate.
Any tips will be appreciated!