All Forum Posts by: Bradley M.

@David M. Thank you for the response, I will definitely be talking to a lender here soon.

@Chris Mason Thank you for that detailed response, I am glad to hear my impression in this case is correct.

So I keep seeing that most lenders want two years of steady W2 income in order to qualify for a mortgage. I have 2 years of tax returns, one year was 12k (gross) and the other was 14k (gross), which would most likely not qualify me for any mortgage. At the end of this year/beginning of next year (under ideal circumstances) I will be in a new job making 40k/yr (gross). I have been under the impression that once I get into that new job that the lender would base my pre-approval on the income I would now be making (40k/yr) instead of the past two years until today when someone challenged me on that impression by saying the lender would base the pre-approval amount on my past two years of income. Am I correct that it would be based on the 40k/yr or would the pre-approval be based on my past two years of income?

@Tim Jacob Thanks for the response Tim!

I just finished high school a month ago and plan to attend a community college to get an AAS degree which is going to be paid for by a state scholarship and should only take 3 semester to complete and I would have my degree by time I am 18 Y/O. Currently I'm signed up to get an AAS degree in management and was wondering what type of AAS degree property management companies would prefer when picking through applicants. I've looked at job listings and, to be honest, most really don't care for a degree and just want 2-4 years of property management experience but since I'm not having to pay for the degree I want to go ahead and get one that would appeal to potential companies. An AAS degree in management seems like it's very fitting but I'm not 100% sure. 

The reason I want to get into property management is so I can earn income while learning how to manage properties hands on. I want to invest in house-hack + buy and hold properties as soon as possible (hopefully within the next 2 years) so this seems like such a good opportunity to get paid while learning valuable information. 

Thanks in advance for the information!