Graduating College This May and Wants To Buy First Property

[Chrissy Gillo]

Hello everyone! I'm currently a senior at Montclair State University graduating with a business degree with a concentration of real estate. I currently live in NJ and plan on purchasing in Elizabeth, NJ. I'm looking to purchase my first rental property, but my base salary will be $39,520, but has an annual target pay of $51,357 (including overtime). The target hours per week ranges from 48-50 hours which is mandatory. I have already gone to the banks and they said that they will only take the $39,520. My concern is getting qualified for an FHA loan. The FHA loan will only allow me to purchase around a $200,000 property with my salary. They don't care about overtime. In order to purchase $300,000+ I need to have a set base of around $55,000 in order to purchase the property I want. My target purchase price is $290,000-$350,000. What options do I have to land this property before July 2021? I have a time frame because my girlfriend is supposed to be moving up here for college. The whole plan is to purchase the property, rent it out, and have her move in with me. Please help!! How do I land this property?!