Can I switch jobs while considering purchasing soon

Question

Hi! So I have a good paying job right now in auto sales for Honda but I’ve always wanted to try real estate and my current workplace is going through management Changes which will result in some people getting moved around to other dealerships so I am strongly considering making my transition into Real estate if I have to learn new material for a different Auto Make anyway. Now I was waiting out my two years at this job to be able to qualify for a home loan but I was wondering since real estate is still sales would I still qualify for a conventional loan at the end of my two years?

David E Fitzgerald IV · Answer

not only that, chances are the first year you are not going to make what you make in sales currently. So it would not be 2 years till you could buy again if you moved to real estate, but more than likely 3+ years. They take the average of the last 2 years. So its going to take a bit before you can make money in real estate assuming you can make it. Most people make very little to nothing in real estate. like over 90% so keep that in mind.

Justin Phillips · Answer

Buy your property, then make the switch. Underwriters are always looking for stability. Moving from selling cars to houses is a big change. Just about every Real Estate agent is self-employed, which would definitely restart that 2-year clock.

Nathan Gesner · Answer

Changing jobs can put a kabosh on your ability to purchase. If you were to stay in sales, you'd probably be OK. If you move from cars to real estate, you'll probably reset your clock and won't qualify for anything.