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Updated about 2 years ago on . Most recent reply

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Rick Dreyer
7
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20
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Financing options for commercial property

Rick Dreyer
Posted

Looking for recommendations on possible financing options for a wedding venue my fiance and I own

Background: we both left our W2 jobs in 2021, and started our own company renovating homes. Our first year, we made over $400k. Our second year, due to tax write offs, we made $80k

We purchased an old church and have turned it into a wedding venue. We have a lot of our capital tied up in this project, and are wondering if there are any options available to us to pull at least some of our equity out of the project, so we can use it for other projects

This building has never been a wedding venue before, so there will be no history of income on it. If you have any ideas for financing options, please reach out to me, and I can send you any additional information needed

Thank you in advance!

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