3 Months or 2 years is really up to you in most cases but...
Sometimes it will be determiend by these factors below.
Before we go over the factors, when will be best for you personally? Here's how to know if you are personally ready to buy.
Factors of Readiness
Tip 1. Get Your Tax Documents In Sexy Shape
Do you have your income documents ready?
One of the most frequent issues is that some people have not filed their taxes or have not reported all of their income. In my circle, a lot of us have small businesses, do freelance work, or have online businesses. As a result, it's up to us how much of that income we actually report.
Banks, federal and state government bodies... no one is helping so, what can you do?
While eviction moratoriums and forbearances for homeowners prevented a major increase in homelessness, property owners have been left to risk foreclosure on their investments. For some, this has even meant loss of primary income.
With that being said, here are some options for property owners.
My top suggestion is this:
The best option is to apply for Section 8 voucher approval. Most states provide rental assistance and it is possible that your tenants could secure all or part of their rent and remain in the unit.
You and the property also have to meet certain requirments, but it is worth the effort if it means securing your income and property ownership.
Here are other suggestions from outside sources.
Leverage the full range of solutions available to landlord
(Excerpt of "The Right Way to Handle Tenant Relief Requests")
Here are a few options to avoid complete loss of rental income:
Jessica Bordelon, Agent,