All Forum Posts by: Sara Habtom

Good afternoon! I haven't started my real estate investing journey just yet, but I do want to get some advice or opinions about what's best when it comes to getting your first rental property as a beginner. I've heard that starting off by doing BRRRR might not be the best way to start since it comes with a lot of problems and with buying and renting it out once you're done with renovation. I've heard some people say the best way to get into real estate is to buy a turnkey property since everything is done.

I don't have any debt at all, I have a 778 credit score, and I have about $35,000 in liquid. I don't have 2 years of work history, but I do plan to work a W2 job until I start seeing progress in my rental estate journey.

I love to hear all your responses!

Good morning! Where should I look for rental properties? I’ve looked at Zillow, Redfin, etc. Are there any other sites to browse?

Has anyone got approve by a lender without a 2 years work history and about 6 months of unemployment? If so, love to hear more about it! 

When buying an investment property with a lenders money what can you use the money for? It is only fixing the property, closing cost, utilities? 

What are some books on biggerpockets that are beginner friendly when it comes to fix and flip or BRRRR?

Hello! I’m not sure if what kind of loan I should go for when it comes to rental properties. I have zero debt and my credit score is 778. The only problem is that I don’t have 2 years worth of work history. Are there some loans out there that will still approve me? 

Hello! I'm still learning about rental investments and was wondering if you have a 6 months gap can you still be approved for a loan? This would be my 1st property I'm investing in. I don't have any debt at all and have a high credit score but don't have 2 years of consistent work history. My last employer was only for 11 months from Aug 2022 to July 2023 since I was over seas for 6 weeks and left due to my hours been cut down. I work 2 part time jobs probably making about $30k a year and have some money in my HYSA. I'm also looking to buy my 1st investment property next year 2025 since I'm planning to move to a different state. Does my first employer from Aug 2022 to July 2023 still count for a 2 year work history for next year in 2025? If not, what are some other ways I can buy my first rental property? I'm looking to buy a distressed single house. 

Would I still be approved if I have 11 months of work history from one employer and another 11 months from a different employer? 

If I have a 6 months gap can I still be qualified for a loan to rent properties? Is there a certain amount of income you have to make to be qualified?