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Updated almost 4 years ago, 03/25/2021

User Stats

18
Posts
8
Votes
Matthew Barbaccia
  • Rental Property Investor
  • Rochester NY
8
Votes |
18
Posts

Finding remote work opportunities to keep lending favor

Matthew Barbaccia
  • Rental Property Investor
  • Rochester NY
Posted

Hey BP community,

My girlfriend and I are planning to move from our home in Kailua-Kona, Hawaii (it will remain an investment property managed by local PM) to a destination with cheaper barriers to entry for small multi-family (FHA friendly) long term buy and hold REI. We both have jobs here in Hawaii, I'm a high school math teacher and she works for Hawaiian Airlines. We are both leaving our W2s and heading back to my hometown in Rochester NY for the summer to continue our market research and fine tune our plan, then move based on a deal we find that we can house hack, ideally a fourplex that well live in, rehab, and eventually convert to an investment property.

My concern is about how lenders will look at our employment history if we are both in between jobs. We'd be planning to purchase our home in 3-6 months, but it's possible we can do this sooner if we need to have employment proof prior to moving. I am frantically looking for remote work opportunities (I've been on and off with a virtual tutoring LLC for the past two years and I could ramp this up remotely if needed to show consistent and reliable income but I'd rather dive into a job that will give me real estate experience I can do remotely). I'm wondering what other options we have, and what other BP members have done to overcome similar problems with REI.

Any advice is greatly appreciated, thanks all!

-Matt

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