Type of loans for a B&B financing
Beside an SBA loan, what are the other loan types / financing strategies to finance a Bed & Breakfast?
Ask if they are interested in carry the contract.
Why not a conventional "investment" loan? seller financing? commercial-type loan?
What sort of terms or characteristics are you looking for?
I need to ask around in PA area for these loans then...definitely not seller financing.
- Investor
- Greer, SC
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A STR is typically a house, condo, duplex etc and as such these are residential loans not business loans.
So any investment loan for a residential property will work.
Yes there are creative ways to structure this such as including some owner financing or bringing on an equity partner.
You just need a "regular" residential lender. If you want to message me for a referral, I'd be happy...
- Olympia, WA
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Hey @David Smith, a looong time ago we thought of moving to New Hampshire and running a BnB in North Conway or thereabouts.
At the time, the SBA loans were more favorable considering that the whole place was considered a business. We weren't just buying a large home, but the name, guest lists etc.