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Private Lending & Conventional Mortgage Advice

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Clark Childers
  • Developer
  • Marfa, TX
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RE: Advise on Obtaining a loan for Airbnb Mixed Use Hotel

Clark Childers
  • Developer
  • Marfa, TX
Posted Aug 15 2018, 12:08

I am trying to purchase an 8 cabin lodge in a resort town. I've already had tremendous success with a 10 unit Airbnb hotel I have and we are looking to open a second location. The asking price is 650k. I have enough cash for 25% down. I have run the numbers and done the research and I have proof that I know what I am doing... Why am I having such a hard time finding a loan through banks and credit unions? I haven't explored hard money lenders because I can't handle the high percentage rates and balloon payments. Crowdfunding lenders seem to only apply to flips and I want to hold on to this one. Any advice? 

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