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Updated over 5 years ago,
Real Estate Agent buying Rental Property
Hey guys, looking for some advice. I have been a real estate agent since March of this year and I closed 3 properties and have at least 3 more buyers looking to buy this year. Previously I was working as project manager for a small construction company and I had a set salary. I worked at this company until April, 2019 and when my boss downsized I lost my job and have been a realtor full-time since then. I would like to get pre-approved for a loan to buy a rental property, but not sure the bank will approve me since my income has changed from W2 to commission based. Do I wait 2 years doing full time real estate to get approved? granted I will make good money or do I grab a full-time job, buy a property and go full-time real estate?
Thanks