Securing Financing While Self-Employed

[Alex Sparks]

Hello,

My name is Alex Sparks and I am new to the BiggerPockets web community, but have been listening to the podcast for the last year. My wife and I live in Denton, TX (76201) and are looking to purchase our first home. 

After listening to the BP Podcast we are both very interested in Real Estate investing and would like to pursue a "House Hacking" opportunity, so that our first home can also be an investment. We were hoping to go with an FHA loan on the first house (preferably a duplex) and then grow from there.

However, we are running into a bit of an issue securing financing as we are both self-employed, but have only been so for the last year. The lenders we've spoken with need Two Years of tax records to consider self-employment income, so we don't look good on paper.

Would love to hear some advice on where to go for financing in our situation. I know there is hard money, private money, and owner financing. But I am not sure which (if any) of these is the best to pursue in our situation.

If anyone has any leads or opportunities in the DFW area then I would love to hear them. We are willing to move within reason. I just need to be able to commute, as my business is in Denton.

Thanks for the help,

Alex Sparks