Creative ways to get started as a low income freelancer in 2020?
I know I won't be very attractive to mainstream banks, so I'm looking for other options to obtain financing for my first property. I make between 30k-36k per year, with a DTI of about 30%. I have 15k saved for a down payment, and my down payment account grows by $800 per month. My biggest downfall is income history. I lived abroad until about a year ago, and my income varies wildly (some months I make 1k, some months I make 5k) - and I know the banks won't like that. Still, I'm determined to buy my first property in 2020.
My greatest strengths in this situation are my flexibility and credit. I don't need a fancy house, and I am willing to move almost anywhere in the western half of the US if the numbers are right. The numbers: I need a 2+ br 2+ ba house or apartment for under 200k. It can be a bit beat up, as I can handle painting and some minor carpentry myself. My credit score is over 770 and rising. I plan on living in one br while renting out the other(s) and adding value to the property over 1-3 years, after which I will try and repeat the process with another property, while renting out my br in the first property. I do have some other criteria I'd like to meet (within 60 min drive of major airport, growing economy, etc.) but for right now, I just need help getting some viable strategies on my radar.
Any specific podcast episodes I should listen to? Specific lenders that are friendlier towards people in my situation? Unconventional but legit methods? General strategies or advice? All are appreciated; thank you!