Buying Wedding Venue

[Derek Meyer]

My wife and I are wanting to buy a property that could be a wedding venue. I’m curious what type of financing would be best for this activity.

It would likely be rural 2+ acres with a barn.

There is one that came on the market in our area for 1.3 but that includes furnishings, website, social media accounts etc. This one seems like a business purchase not just a real estate transaction. One major benefit is that it already has 50+ bookings through 2022

The other alternative would be buying a property and building/renovating.

What type of LTV can I expect on something like this?

[Mason Hickman]

@Derek Meyer

Another option outside of traditional commercial loans would be to look into the SBA loans for purchasing an existing business.