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Updated over 7 years ago,
Creative financing ideas please!
I've been negotiating with the sellers of a small Inn and am having trouble finding financing for the entire amount because the sellers have been absentee owners, running the business from out of state and with little effort behind boosting the revenue for 9 years now. I've asked them to let me finance 50% of the deal with an outside lender while they hold the 2nd and suspend payments for 2 years in order for me to increase the revenue. There is plenty of potential to increase the occupancy both during peak season and also by remaining open the remainder of the year (currently it is only open Apr to Oct) and the property and it's online reputation are in pristine condition! I also offered alternatively to let me buy in 50% and they could remain partners for the 2 years at which time I would then buy them out.
Now that they are talking over my proposals I need to make sure this is something I can finance! Any guidance on other creative financing ideas?