Working in construction and as an Agent?

[Daniel Hason]

Hello BP world Im currently working construction and renovation. Working for an hourly pay of $18. I have learned a lot about the structural make up of a building which has been very useful. I do have long term goals of rehabbing and holding multifamily properties. My hourly pay is just getting me by. I have been taking my agent licensing course and plan on working for a broker some time soon. As mentioned is Scott Trenches book “set for life”, he recommends taking a job which can potentially ear more (in my case it is real estate sales). I see being an agent as a way of accessing the MLS as well as leaning the ins and out of what it takes to purchase and sell homes. The idea of switching from a steady hourly pay to commission is a bit scary. I can set it up where i’m able to work both construction and agent part time. Once the spring/summer/fall season comes around here in upstate new york, the second home buyers market will be hot. The potential to earn more cash is there with being an agent. The education is there with being an agent. **Im wondering if a commissions based job will hurt my chances of receiving a loan in the future?

[Dave Van Horn]

Unfortunately, yes. A lender will most likely want to see 2 years of full time employment and they'll average your commissions. I know because I almost hit a similar roadblock. Luckily before I went full time as a realtor, I made a point to get another mortgage when I was a full time contractor.