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Updated almost 5 years ago,
Financing Aquisition and Construction
Hi,
Looking at a small motel/inn in Vermont as a lifestyle business for my family. The existing property has 10 cabins on it and a foundation where there used to be an owner's residence and some motel rooms and common area. It burned down in 2018.
There is loads of potential here in many aspects.
I am looking for advice on a lender who would finance the acquisition, cosmetic rehab of the existing cabins, and the construction of a new structure on the old foundation. Total project cost under 500k.
Thanks in advance for any advice!