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Updated over 1 year ago on . Most recent reply

User Stats

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2
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Jayce Johnson
  • Real Estate Agent
  • Helena MT
2
Votes |
1
Posts

Need some help how do I get started?

Jayce Johnson
  • Real Estate Agent
  • Helena MT
Posted

I am dead set on wanting to purchase a multifamily home to house hack and start building my Real Estate Portfolio! My big issue is getting a loan, I recently started a commission only Job and have been told I cant really get a loan until I can show 2 years of steady commission income. How can I get around this? all information and ideas will be helpful and greatly appreciated!! 

Most Popular Reply

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585
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654
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Austin Steed
  • Real Estate Agent
  • Columbus, OH
654
Votes |
585
Posts
Austin Steed
  • Real Estate Agent
  • Columbus, OH
Replied

Find a good secondary market lender. (Lender selling to fannie / Freddy)

My first house hack in Columbus Ohio I showed 12k of income and had 1099 income.


The lender was able to use the other side of the duplex income. Whatever rent is on one side you can count 70% of that income to offset your debt to income ratio. I really didn't think it would be possible but with the right lender you should be able to get it done.

  • Austin Steed
business profile image
Lim Realty Group

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