Can you get financing an a large bnb property?

[Daniel Murphy]

Hey everyone, I have a client who owns a bed & breakfast property in CA.  They're running into issues with potential refinancing.  Ideally, they would have access to a line of credit, or some type of loan for misc purchases.  But here is what they are running into.  Does anyone have ideas of who to talk? 

1. You can’t get an ag loan because you don’t grow anything. 
2. You can’t get a residential loan because you run a business on the property. Appraisers would do on-line and see the business website. We even had one guy book a room and then cancel.
3. You can’t get a commercial loan because you live in the property

[Robin Simon]

Quote from @AJ Exner:

Quote from @Daniel Murphy:

Hey everyone, I have a client who owns a bed & breakfast property in CA.  They're running into issues with potential refinancing.  Ideally, they would have access to a line of credit, or some type of loan for misc purchases.  But here is what they are running into.  Does anyone have ideas of who to talk? 

1. You can’t get an ag loan because you don’t grow anything. 
2. You can’t get a residential loan because you run a business on the property. Appraisers would do on-line and see the business website. We even had one guy book a room and then cancel.
3. You can’t get a commercial loan because you live in the property

Could you do a DSCR loan on the property and establish a primary residence somewhere else?

DSCR will likely be very hard on a property like this considering the hotel-type nature (the info mentioned in #2 with the business website, online booking capability, etc.). Thats usually a line most DSCR Lenders will use to separate whether its a financable STR vs. a "hotel"