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Updated about 3 years ago on . Most recent reply

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2
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1
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Giovanni Martinez
  • New to Real Estate
  • South Texas
1
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2
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Finding lender while my income is contract work?

Giovanni Martinez
  • New to Real Estate
  • South Texas
Posted

Good evening everyone!

I am 25 years old, paying rent in South Texas (apartment).

I've been making 5200/month(net) through full time work for the past year, but have the opportunity to make ~8000/month(net) through contract work in my field.

The contract work is traveling(different states in the U.S) with living expenses covered and per diem. Contract lengths vary from 3 months to a year depending on the job/location.

I am considering taking on the contract work to greatly increase my income and my savings, which would primarily go to my future investments.

However, I am thinking it might be though to secure a mortgage with my income coming from contract work.

How hard could it be to secure a mortgage loan on a residential multifamily property if I choose to do contract work?

I appreciate all feedback, thank you!!

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