Updated over 8 years ago on . Most recent reply

Finding financing for self employed
I am a flooring contractor in Abilene tx and I own two single family rentals and one duplex (owner finance). I have good credit and decent amount of capitol but have had issues with getting finacing because of being self empoyed so I have had to buy the first two rentals with cash and I'm trying not to continue to have to do that anymore because it depletes my capital. Any advice on other ways of getting financing would be greatly appreciated.
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Hello Eric, I'm a fellow flooring installer, banks DO get leery of self employed people because of the unstable nature of their income. Best thing you can do is have good cash reserves and a good credit score, combine that with a relationship with a small local bank and you should be okay.