HOW TO FINANCE A MULTI FAMILY PROPERTY/ RESORT

[Liesel Griffin]

Hello BP people! I am looking to relocate to Arkansas from Alaska and have come across a potential business investment. 

It is a 6 cabin ( Full utilities and kitchenettes), 2 duplex and a 3 bed 3 bath home on 7 acres resort. 

From what I understand, Multifamily purchases are based on the income potential rather than your own personal income. Can a resort such as this also potentially quality for a multi family purchase?

If yes, can you please recommend the best way I might go about acquiring such a loan?

Thank you for time in advance!

[Andrew Johnson]

@Liesel Griffin I think some of this would depend on how you'd define this "resort".  Is it a resort because it has a shared pool and a clubhouse?  Or are you talking about staff, providing food, etc.  One could likely be a 'multi-family property' and the other is just a straight-up business.  Not to mention that if it's just a bunch of cabins and some raw land you might be able to just do 6 straight-up mortgages (6 cabins) and something quirky with the "extra" land.