Self employed borrower with low after deduction income

[Wesley Weber]

I'm in the Tampa, FL area. Looking to get into real estate by doing an Owner occupied property while I rehab for 6-12 months and then rent it out. The problem I am facing is that my wife and I have been self employed for 6 years and have low reported income because of deductions (100K annual business income but only 40k after deductions). Does anyone have advice for routes I could take to go about securing a loan based on these circumstances? Do any lenders actually look at an entire tax schedule and not just the bottom line?

[Forrest B.]

Wesley,

I've talked with several people in a similar position.  They've told me that instead of banks, they rely upon their reserves or private money (individuals who are willing to lend on a project). 

If that's something you'd like to discuss in more depth & learn more about, send me a PM and we can discuss further offline.

Forrest Baumhover