First time loan advice.

[Tabitha Gier]

Hello everybody! So I’m pretty ready to make the jump into buying my first property/multifamily! I move from WI to TN,July 1st and plan to owner occupy a multifamily home, or a maybe a single family house if it comes down to it. 

The issue that I’m having right now is the loan. When COVID started, my two jobs closed. Did unemployment for a few months until I was able to start working as self-employed last May. So now I have been averaging a decent amount. 

My lender said we can not continue the process without having, practically a regular job because I have been self employed for less than two years. That’s ok, but what do I do next? My self-employment is not what I want to do for life, but it’s paid my way and I’m happy with it for the time being. I would like to be a realtor, and wanted to start that process after moving. 

How are ways I can go about this? Should I find a remote job in TN that I can work for while living here in the mean time? Should I contact my old jobs that would take me back, but they are both waitressing jobs? I make good money but it isn’t consistent nor hourly. Ubering? Lol 

Not sure if that would help this situation.

Would confirming a job there for July let me continue my process, or do I need to be presently working it?

Any advice welcomed! I’m quite confused on what the qualifications are.

Additional info, I’m 24, I have a 780 credit score and about 10k or so in savings. If that means anything. 

Thank you all in advance! 

[Anthony McEvoy]

@Tabitha Gier - Find the property first.  If it is that great of a opportunity, you will find the money.  I see it time and time again within the forums here... people offering up money to jump in and they are only average properties.

Have you spoke to any of the hard money lenders in the network section of biggerpockets?