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Updated over 3 years ago,
Introduction and Advice Needed
Hello all!
I am new to the BP forums, but have been listening to the podcasts for about a year and recently started going to some Real Estate investor meet ups. I have a property in Aurora, CO that I've been house hacking for about 3 years now. I finally have 3 tenants that have all resigned leases, and live happily together! Hallelujah haha!
My situation is a bit different than most, since my mom actually bought this house in order for me to rent out the remaining 3 bedrooms. I'm completely self employed which is why I was struggling getting conventional financing to buy my own property. I've been running most of my side gigs anywhere from 2 years to 6 months (dog trainer, Beachbody coach, condition reporter for a property management company, manager for my mom's airbnb). This has lead to some very confusing tax seasons to say the least.
I'm currently studying for the National and State Real Estate Broker exam in Colorado! I'm hoping to help other real estate investors find properties to house hack and start their journey to financial freedom.
Once I accomplish obtaining my licence, my next goal is to actually buy my mom's primary home in Canon City, CO that is now being run close to full time as an Airbnb that I manage for her. So this is where I need help/advice. Since I am self employed getting a full conventional loan is going to be difficult. We have discussed a partial conventional loan as well as seller financing.
I am looking for advice on how to merge all my real estate gigs into one "business", so that I don't have to wait the 2 years for my new Real Estate Broker jobs to count towards my income. I'm not even sure if that is possible/legal, haha which is why I need advice!
Thanks for reading my story, and hopefully I can connect with some of the other Real Estate Investors out there.
Ashley Wolkomir