Starting new career, cant get loan..

2 Replies

I'll be starting my new career as a realtor in October. First thing my wife and I want to do is buy a 4-plex and house hack our way to financial freedom. My current occupation is sales and but I'm told I still need to prove myself as a realtor as a full 24 MONTHS before FHA will touch me for a loan.. what are my options??

@Logan Kirchhoff

Wishing you success as a Realtor ahead!  BiggerPockets has many discussions on the use of other people’s money to make purchases.  Since it sounds like a cash purchase isn’t an option, read up on hard money loans and private loans, seller financing.  Do you have family who can help?   Will a lender work with your wife’s income?

@Lydia S.

Thanks for taking time to respond!

I recently used a hard money loan to acquire my second rental, in the process of fixing it now for a cash out refi. The 4 plex we are moving into is already nice and fixed up so theres not much room for any added value to make a refi/hard-money-payoff make sense. I do think I have found a lender who can help me out though!