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Updated about 1 year ago on . Most recent reply

User Stats

14
Posts
2
Votes
Sara Habtom
  • New to Real Estate
2
Votes |
14
Posts

Still learning about buying my 1st rental property

Sara Habtom
  • New to Real Estate
Posted

Hello! I'm still learning about rental investments and was wondering if you have a 6 months gap can you still be approved for a loan? This would be my 1st property I'm investing in. I don't have any debt at all and have a high credit score but don't have 2 years of consistent work history. My last employer was only for 11 months from Aug 2022 to July 2023 since I was over seas for 6 weeks and left due to my hours been cut down. I work 2 part time jobs probably making about $30k a year and have some money in my HYSA. I'm also looking to buy my 1st investment property next year 2025 since I'm planning to move to a different state. Does my first employer from Aug 2022 to July 2023 still count for a 2 year work history for next year in 2025? If not, what are some other ways I can buy my first rental property? I'm looking to buy a distressed single house. 

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