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Updated almost 7 years ago,
Financing - Unconventional?
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?