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Updated about 21 hours ago on . Most recent reply

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Creative Financing needed...I'm stuck!

Leslie O Reardon
Posted

I currently own a 22,000 sq ft building on 2 acres Residential with a Special Use permit, taxed as commercial.  The additional 178 acres does not need to be a part of this.  We currently run a wedding venue on this property (8 yrs in biz)  I owe 1.2 mil and appraise at 8mil.  (Purchased at $600k and have put approx 2 mil into this).  I am looking to purchase an additional property with the equity from my place and buy his at 2 mil...he is an existing business with 8 yrs also.  The rest would be for improvements and adding additional lodging onsite for more revenue.I'm struggling to find anyone who does a loan for this.

I would think the rent collected for the booked weddings would be treated as rent on a home as an Airbnb.  Similar, but I have bookings a year out!

Other than SBA what other ideas for funding?                      

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