Updated about 4 years ago on . Most recent reply
Looking for some advise - Combined Venue/rental options
Hello everyone!! I have always loved the discussions here, so I thought I would open a conversation about an interesting situation.
I have a client looking at a building - structurally sounds, bones are AWESOME. Building is prime for a LARGE restaurant on the main floor with large deck for the nicer weather, and a large upstairs perfect for a large apartment or perhaps even 2.
What sort of lending would they be looking at for this?
The property needs at least 150K worth of work - plus the applying for licensing, alcohol licensing, etc.
Location is... decent. About 10 -15 miles from 2 larger city areas, and then smaller communities.
I was saying that making it more of a destination venue - think Bridal showers, birthdays, weddings, etc. may be the way to go.
But I honestly am not sure what sort of lending they would even be looking at for this sort of thing?
Any advice?