Investor · Member since 2017 · 69 posts · 65 votes
Hello Everyone! Looking to see if anyone has had any luck finding financing for an established assisted living facility (real property w/ separate partnership with operator to run day to day). I was advised by a local credit union that I would need to go the SBA route to be able to include the income related to services in the underwriting. Before going that route, are there any other options out there short of finding more partners to pay cash? Thanks!
Lender · Venice, CA · Member since 2021 · 189 posts · 132 votes
4y
@Casey Caton I work with a direct lender that finances adult care/assisted living facilities. Caveats to getting these loans done are 1) they must be residential properties 2) must also be non-owner occupied.
The terms are flexible and borrowers have plenty of options, i.e. long term, short term, fully amortizing, interest only, etc.
Investor · Bend, OR · Member since 2020 · 15 posts · 11 votes
4y
Quote from:
@Casey Caton I work with a direct lender that finances adult care/assisted living facilities. Caveats to getting these loans done are 1) they must be residential properties 2) must also be non-owner occupied.
The terms are flexible and borrowers have plenty of options, i.e. long term, short term, fully amortizing, interest only, etc.
Hey @David Bilandzija I have a couple of assisted living homes and am actively exploring refi options to eventually add more homes to my portfolio. Would you mind referring me to the lender you work with? I’ll send a PM as well.. thanks!