Is it difficult to get approved for loan as an agent (self empl)?

[Ronald Mejia]

I am transitioning from my previous job to a new one (real estate agent). My previous job was a 1099 position as well and was there for over 2 years. My goal is to purchase my first rental property this year but concerned about the reportable income aspect since i don't know when my first deal will be done. I need some advice on how to navigate this uncharted water for me and how to achieve my goal with the cards im dealt. Thanks BP!

[Paul Defngin]

If you are looking for conventional or FHA financing, then yes. You normally need 2 years history of the same field as self employed but don't let this stop you from buying.

There are a ton of people who purchased an investment property without the aforementioned restrictions. Do a search on here and you will find: no money down, alternative/portfolio financing for investment properties, partners, private lenders, seller financing, etc. 

Happy New Year. Good luck and best in your journey.