All Forum Posts by: Kate Gagnon

I need some advice because I'm running into the same problem with working a commission-based job. When I apply for a mortgage, I cannot claim my commission as income until I have two years of commission as "proof" of what I earn.

Here's my story, I work in sales, which is largely commission-based, (I wouldn't have it any other way). I purchased a duplex last year, in which i had to show two years of commission to get approved. I waited patiently and saved, found a property, purchased it, and then made a job change. I am now ready to purchase another investment property, and although I have the cash down, I can only qualify for a mortgage based on my base-salary, which is maybe 1/4 of what I actually take home. This drastically lowers my purchasing power- especially for the northeast, and makes it extremely hard to be able to buy a property this year.

I have read the forums and know there are other options, maybe get a partner, hard-money etc, however I'm wondering if anyone else has personally run into this issue and  what they did- because I don't feel I have enough experience for a hard-money loan or taking on a partner.

Any feedback would greatly help!

-KG

Thank you everyone!

@Gal Peretz, I've been eyeballing that networking group and have been to a meeting many moons ago. I'm hoping to make it this month!

Hi All,

My name is Kate and I'm diving in and doing a quick introduction. I currently live in New Hampshire, and have one cash-flow positive duplex- which I scrimped and saved years for while building credit. I'm currently looking to get a BRRR property hopefully before the end of the year. I'm passionate about RE and always looking to meet like minded people and learn different strategies! Anyone working in Southern NH, having success, and willing to let me pick your brain?

Kate