Financing options for a commercial investment property

[Nicholas Gessner]

Background: a couple years ago my brother had his wedding rehearsal dinner at a winery near my mom's house. We only knew about it because a friend of the family lived on the same road as the winery since the current owner does no marketing or anything. Nice location but could do with improvements.

Just this week my mom called to say that the location was for sale for sale. The asking price is $1.2 million. How would you approach hard money lenders or a bank regarding financing of this/ what other options for financing are there?

My mom, who loves event planning and has catered numerous events, and I have talked theoretically how to improve the venue and various other ideas to make it a profitable investment. Initially she/we would focus on turning this into an event venue. We would put a hold on the winery side of things but keep that infrastructure so that we could eventually produce ourselves, not the main goal currently, or lease it to a winery or someone wanting to use those resources already in place.

Thanks for your input!

[Chris Seveney]

@Nicholas Gessner

Approach them as if you would any lender.

I need $X of financing to purchase a $1.2M property. Include what your plan is for the property and for a private lender how are you preserving their capital and going to be able to pay it back

So what is your exit strategy on this loan