All Forum Posts by: Joshua Overton

Piling on to Erik's post, if you are making the case that it will be a primary home type purchase, your lenders are going to want to know how that is going to work from an income perspective. If you are considering a duplex and have a downpayment 20-25% you could consider purchasing it as an investment property while you have the w-2 job.

As far as a waiting period, they are going to want to verify your employment. People change jobs all the time and move too, so nothing really is needed there, other than the ability to support your income. Likely they will call HR at the new job and verify what you told them from an income perspective. With that said, I am sure they will want to see a couple of recent paystubs so they know they aren't calling your friend to verify your employment. However, that can be done concurrently with being under contract if you know it's all legit, so you don't need to wait for months before making a move.

Yes I think this is what ill do. If I purchase as an investment property can I still move into it with no issues once I move?

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Denver, Colorado

Good morning, I'm sure this has been asked before. I plan on moving to another state and I want to purchase a Single family Home, or Duplex in the state I'm moving to. I have a good W2 and wont have it once I move. Should I buy the property before I move so I qualify with current W2 or move first, get a job and then apply? What is the waiting period for new employment before I can qualify. If I purchase the house before I move what type of loan would I need? Thank you for your time.

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Denver, Colorado

Quote from @Caleb Brown:

What's the ARV?

We are almost finished, Invested about $25,000 into it now. ARV is $600,000

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Investment Info:

Single-family residence fix & flip investment.

Purchase price: $328,000
Cash invested: $5,000

3 Bedroom, 3 Bath (1 full, 2 half)
3 Stories, (2 story with walk out basement.)
1 Acre

What made you interested in investing in this type of deal?

Equity

How did you find this deal and how did you negotiate it?

VA Loan

How did you finance this deal?

VA Loan

How did you add value to the deal?

DIY

What was the outcome?

Putting up for Sale Next Year

Lessons learned? Challenges?

Takes a ton of time doing a live and flip.

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All Forum Posts by: Joshua Overton

Joshua Overton has started 2 posts and replied 4 times.

Post: Purchase Before I move or after?

Post: Purchase Before I move or after?

Post: Live and Flip taking forever.

Post: Live and Flip taking forever.