Bankability of Commission-Based Workers

[AJ Smith]

How much would I need to make through commissions in order for banks to feel comfortable lending me money to buy real estate? Could I invest right away as a commissions-based worker, or would I need to build a few years first?

Hi all,

I'm soon to graduate from the University of Iowa with an Accounting degree, and after two internships in my chosen field I've realized that I would be extremely frustrated with the inefficiency of working 9-5. The main frustration comes from the fact that in my field (Accounting), most companies are paid based on billable hours, so they want you working 9-5 (or more accurately 8-10 during tax season) on SOMETHING, regardless of your production level and how important that thing is to generating revenue.

I'm interested in commission-based work so I can focus on the important few and outsource/eliminate the rest.

I want to understand what banks will want to see in order for them to feel comfortable lending to me to invest in real estate despite not having a salaried 9-5.

I aim to house-hack one small multifamily per year in Des Moines, Iowa and eventually move up to Mid-size and Large multifamily in the same area. My research suggests the initial small multifamily properties in this area typically run between $120k and $200k.

Des Moines Lenders, Des Moines Realtors, Iowa Realtors, Iowa Lenders, I would love your feedback on how much money I'll need to make off commissions in order for banks/credit unions to feel comfortable lending to me as a commissions-based worker. My main goal really is to invest and build my portfolio from right out of college's gates, so I want to ensure that I'll have the bankability necessary to do that before leaping off my current career path.

Thanks for your time,

AJ