Rental Property Investor · Orlando, FL · Member since 2015 · 21 posts · 5 votes
10y
Here is my situation. I am an Anesthetist, make great money and have a great credit score. The problem I am running into is that I recently moved to ABQ for a new position which is 1099. My contract is an Annual, auto renewing contract paid at an hourly rate. Because I am a new 1099, most banks won't talk because Fannie and Freddie say 2 yrs are required for 1099 and most banks are selling loans to the big two. I am doing the line of work I was doing in orlando before I moved. My wife and I are looking to buy, ideally a multi unit and do some Reno and house hacking by living in 1 unit.
Real Estate Investor · Albuquerque, NM · Member since 2014 · 29 posts · 16 votes
10y
@Sean Gover Do you have any specific contacts you recommend? I'm also in New Mexico and always looking to build my portfolio of hard money / equity lenders....
Full Time Investor · Albuquerque, NM · Member since 2013 · 320 posts · 154 votes
10y
Jason, I have used Kim Kissane at Premiere Choice Mortgage. She was able to help us out when no one else could. There are also some programs (I believe) specifically for health care professionals in NM.
Main Bank here in Albuquerque also does some portfolio lending. Call Mike Sandoval and he might be able to set you up.
Rental Property Investor · Orlando, FL · Member since 2015 · 21 posts · 5 votes
9y
Thank to everyone fore their suggestions! I found a portfolio lender (First American Bank) that keeps some of their mortgages in-house. So I was able to purchase a foreclosed townhouse near Academy and San Mateo. We closed in October. My wife and I have since completely renovated the entire place while we lived in it. We plan to rent this out once we find our next investment property.