Updated almost 7 years ago on . Most recent reply
Financing for SFH that has assisted living business currently
Hello all,
Does anyone know how to finance a single family house that already has an assisted living company running a business in it? I am looking at a property such as this, but I can't seem to find a lender that will take this one.
Residential lenders tell me no since there is already a business running inside the property, SBA says no unless I own the business also, which is an option but not what I want to do at this time, I just want to own the house, not the business. And I'm still waiting to hear back on commercial lending but it hasn't been favorable yet.
Does anyone have any idea on how to finance this property in this situation?