All Forum Posts by: Ashly Doran

As you can see from the title, I am a travel nurse who just spoke with a lender and I am feeling so defeated. Right now I am based in Aberdeen, WA and am extremely motivated to purchase my first property, specifically a multi-family. My plan is to buy something somewhere between Aberdeen and Olympia so that I can live in one unit and rent out the other(s) to travel nurses or Airbnb. I am also planning on getting an FHA loan (3.5% down), live in it for 1 year, and then repeat the process over and over again.

But after speaking with a lender, it sounds like I am going to have an incredibly difficult time obtaining a loan. I have been a Travel nurse for 6 months (I know) and was at a staff RN job for 1 year before that. (Before that I was a bartender at the same establishment for 8 years). There HAS to be a way around this. I am totally willing to get creative and figure something out as I don’t want to wait another year and a half to buy.

My question is this: what alternatives do I have? Should I go to a local bank? Should I wait 6 months until I have 1 year as a travel nurse? Should I try for a DSCR or non-QM loan?

If anyone knows of a lender who is willing to work with me (and get creative) and who has also worked with other travel nurses in the past, please point them my way! Feel free to DM me if you don’t want to share their info on the forum.

*I should also mention that I have excellent income, savings, and credit and like I mentioned above, am very motivated to buy and become a real estate investor!*

Thank you in advance

-Ashly

**cross-posted**
***I am really hoping to find a solution. Sorry if you see this post a couple of times***

As you can see from the title, I am a travel nurse who just spoke with a lender and I am feeling so defeated. Right now I am based in Aberdeen, WA and am extremely motivated to purchase my first property, specifically a multi-family. My plan is to buy something somewhere between Aberdeen and Olympia so that I can live in one unit and rent out the other(s) to travel nurses or Airbnb. I am also planning on getting an FHA loan (3.5% down), live in it for 1 year, and then repeat the process over and over again.

But after speaking with a lender, it sounds like I am going to have an incredibly difficult time obtaining a loan. I have been a Travel nurse for 6 months (I know) and was at a staff RN job for 1 year before that. (Before that I was a bartender at the same establishment for 8 years). There HAS to be a way around this. I am totally willing to get creative and figure something out as I don’t want to wait another year and a half to buy.

My question is this: what alternatives do I have? Should I go to a local bank? Should I wait 6 months until I have 1 year as a travel nurse? Should I try for a DSCR or non-QM loan?

If anyone knows of a lender who is willing to work with me (and get creative) and who has also worked with other travel nurses in the past, please point them my way! Feel free to DM me if you don’t want to share their info on the forum.

*I should also mention that I have excellent income, savings, and credit and like I mentioned above, am very motivated to buy and become a real estate investor!*

Thank you in advance 

-Ashly

Coming from a travel nurse, I would be willing to pay just a little bit more to have laundry in unit and not have an extra 1/2 bath. Look at who you are trying to rent to.

if anyone in the Aberdeen, WA area knows of a knowledgeable real estate agent and would like to share, I would be extremely grateful. I am soon meeting with the sellers and want to he as prepared as possible. 

Thanks again everyone 

Hi everyone,

I am a current travel nurse who through being a renter of medium and short-term rentals for quite some time, have decided to get into real estate investing so that I can be the owner and rentee. I have been trying to decide between a single-family home that I could house-hack or a multi-family property and today, an ad for an off-market 4-plex that is in my area fell into my lap. 

I have been reading books, browsing forums, and following real estate investors on social media to try and learn everything I can as my goal was to buy my first property within 6 months -- but today I think I may have stumbled upon a great opportunity. My question is, where do I start?! I am definitely experiencing some analysis paralysis and want to reach out to the seller, but do I get a real estate agent first? Do I even need one? Do I get a broker first? An attorney? An appraiser? 

I REALLY want to reach out to the seller ASAP but definitely want to be prepared. Please help!

The area is Aberdeen, WA where there is demand for travel nurse housing and Airbnb rentals. Also, all 4 units are tenant occupied (which I would all to vacate and I live in one unit) but I don't have any information about their lease status, etc.

Thank you!

Ashly

Hi everyone

I am a travel nurse who is jumping into the real estate in enacting game, hoping to get out of the ER in 5 years. I have NO experience in this area but have began reading books and researching online to learn as much as I can! I am excited to be a part of a community to learn and connect with others :).