Hello long time lurker here with a question. I am looking to purchase a triplex/quad within the next year through the home possible program. I’m a 23 year old self employed contractor with a 700 credit score.
From 2014-2017 I haven’t shown much income due to write offs. I can of course change that when I file for 2018 but I am planning on making a career change into sales within the next 9-12 months. I was wondering if this will affect me negatively when applying for a job and if I’m better off staying self employed until I find a property and my loan is squared away. I live in a Boston suburb and plan to buy a property in this area in a B class area which I expect to run me 500k+.
I plan to buy something that needs work and plan to have 10k set aside for renovation and 30k for a down payment as well as some reserves. I couldn’t find anything regarding employment requirements on the home possible page so I was just wondering what my best move is here. Any input is appreciated. Thank you
