job vs business?

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Mason WeissBusiness Member
Realtor · Phoenix, AZ · Member since 2021 · 524 posts · 241 votes
3y

Forget the mortgage, your own business that will bring in $150K is worth pursuing over a job. My guess is you can likely grow that business to bring in even more annually. Sure conventional loans favor W2 jobs, but when you are pursuing financial freedom, owning and growing your business is more valuable than obtaining a mortgage right now.

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  • Alecia LovelessPro Member
    Member since 2019 · 3k+ posts · 2k+ votes
    3y

    @Jake Warren I believe it depends on what type of business you have as to how easy it is to qualify for mortgages and it may require 2 years of tax returns. I believe commission based work is harder to qualify with but something like lawyer or doctor or electrician is easier. Seasonal type things may be harder too.

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  • Mason WeissBusiness Member
    Realtor · Phoenix, AZ · Member since 2021 · 524 posts · 241 votes
    3y

    Forget the mortgage, your own business that will bring in $150K is worth pursuing over a job. My guess is you can likely grow that business to bring in even more annually. Sure conventional loans favor W2 jobs, but when you are pursuing financial freedom, owning and growing your business is more valuable than obtaining a mortgage right now.

    [email protected]480-818-7745
    1Reply
  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    3y

    Don't think either are going to qualify you to purchase a house in an expensive market like Toronto, without a significant down payment.

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  • Garrett Spear
    Investor · Lexington, KY · Member since 2017 · 26 posts · 12 votes
    3y
    Hey Jake, My vote would be for your own business. Not because of the current income differential, but because of the personal and financial growth path that entrepreneurship entails.
    As far as getting a mortgage goes, many lenders will want to see 2 years of solid income history, either in the job or in the business. So either is a viable option!
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