Looking for ideas of how to finance a shop build. We are wanting to buy a property and run the business out of a shop on the property. Being self-employed, filing jointly with income from single-member LLC business, means that we don't have W-2s like most folk. For the past 5 years we've also claimed every deduction under the sun - great for lowering income taxes, bad for trying to get a loan. So this disqualifies us from many conventional loans, at this point anyway. Most regular lenders want 2 years of tax returns, and we're just now adjusting our business into showing profit, rather than reinvesting into equipment and claiming everything. So at the moment about the only property loan we would qualify for is a bank statement loan to buy a property - sounds fine except the 8.875% rate.

But what about buying a property without a shop then financing a shop build?

Any experience from those that have build a shop with a construction / land improvement loan / similar?

I have heard that construction loans require a GC other than the borrower to build the shop. Is this universally true? I wouldn't be able to build the shop myself with a loan?

Appreciate any ideas. Or rich relatives to come out of the woodwork I didn't know we had