Do I buy a property to house hack before or after I move?

[Ryan McIntyre]

Hello Ryan here, this is my first post here and am new to the game trying to build my plan to scale a buy and hold rental portfolio. I am 26 and currently live in Orange County CA and am saving up for my first property. I am doing an investment over the next 3 years that should return a sizeable sum for a down payment. The plan used to be buy in the area but prices are so expensive that I am now pivoting towards moving into Washington or Oregon (Portland area) which seems like an easier market to get into as well as I have family out there. My question is about timing, if I move out of state and get a new job will I have to stay at that new W-2 for awhile to show consistent money earnings to qualify for a (FHA) loan? If so and if that is a problem is it a bad idea to buy while still in California then move up there after and try and line up a job? I have a decent job in CA making 70k ~ a year and want to make sure I qualify for a good sized loan. I would like to house hack a duplex or triplex and eventually re-fi and repeat. I am considering forcing some value but am nervous given its my first deal as well as the timeline/location and moving aspects of it, any advice would be great thanks!

           -Ryan

[Peter Mckernan]

Quote from @Ryan McIntyre:

Hello Ryan here, this is my first post here and am new to the game trying to build my plan to scale a buy and hold rental portfolio. I am 26 and currently live in Orange County CA and am saving up for my first property. I am doing an investment over the next 3 years that should return a sizeable sum for a down payment. The plan used to be buy in the area but prices are so expensive that I am now pivoting towards moving into Washington or Oregon (Portland area) which seems like an easier market to get into as well as I have family out there. My question is about timing, if I move out of state and get a new job will I have to stay at that new W-2 for awhile to show consistent money earnings to qualify for a (FHA) loan? If so and if that is a problem is it a bad idea to buy while still in California then move up there after and try and line up a job? I have a decent job in CA making 70k ~ a year and want to make sure I qualify for a good sized loan. I would like to house hack a duplex or triplex and eventually re-fi and repeat. I am considering forcing some value but am nervous given its my first deal as well as the timeline/location and moving aspects of it, any advice would be great thanks!

           -Ryan

 If you are working in the same industry, or the same job title you are good. You can move from programer from google to yahoo and still have the same look from a lender. If you went to a different company and different position then it will be hard to qualify you. Also look at local credit unions and community banks that can do exceptions verse a big bank that cannot really change their standards for a loan.