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Updated over 4 years ago on . Most recent reply

User Stats

10
Posts
4
Votes
Dylan Petersen
  • Real Estate Broker
  • Tacoma, WA
4
Votes |
10
Posts

Need some finance advice (career change)

Dylan Petersen
  • Real Estate Broker
  • Tacoma, WA
Posted

Hey guys!

So here’s some background about me:

I have been a welder for almost all of my adult life.

I bought a triplex which I house hack in Tacoma, WA just over a year ago.

I am wanting to rent out all units and buy another small multi family to house hack.

But here’s the kicker.

I also got my real estate license at the start of the year.

Up until July 31st, I welded full time/over time at night and sold real estate during the day.

The project I was on finished, and I decided to dive DEEP into real estate sales.

In September I made just under 100k in gross commission income. Now I have to pay taxes, and part of that paid off my split with my brokerage. 
but I still am left with a huge chunk and I am on track to have another killer month this month. 

The only thing is, I have gone from hourly to commission pay. All of the lenders I work with on a normal basis tell me I need to have 2 years of commission pay to qualify for owner occupied loans. 

What options do I have?

Should I try to find a job at night again (hard to find in my area and field) and just hustle hard until I can qualify based off that income?

I really don’t know a lot about the other types of financing. I’ve heard of non-QM loans. I would love all you guys who know the finance side to give me your take and any knowledge or suggestions.


thank you in advance!

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