Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago,

User Stats

6
Posts
0
Votes
Tom Harvey
  • West Henrietta, NY
0
Votes |
6
Posts

Financing - Unconventional?

Tom Harvey
  • West Henrietta, NY
Posted

Here's my situation. I'm seeking a mortgage on a duplex. I'm self employed. I have a seasonal lawn care business. My plan is to actually get a job in the restaurant business (for the winter and temper hours during the lawn season) where the income would have a base wage of $11 plus tips. I may even Uber it up for some extra income. Problem is banks do not like tip income and also I have many expenses for the business so it doesn't show much profit, even though many of these assets (truck, commercial mower, etc) will be paid off over the next 1-3 years. I want to set a goal for myself, to save potentially 25k-30k. I live in a market where you can buy a duplex for 75k-95k in a decent area. 

What are my options here? Do I need to stay at this new job for 2 years and bolster my lawn care income or is there a workaround, say unvconventional financing? Or maybe a larger down payment?

Loading replies...