Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 3 years ago on . Most recent reply

User Stats

55
Posts
25
Votes
Jillian Kemmerer
Pro Member
  • Real Estate Agent
  • Scranton, PA
25
Votes |
55
Posts

Looking for some advise - Combined Venue/rental options

Jillian Kemmerer
Pro Member
  • Real Estate Agent
  • Scranton, PA
Posted

Hello everyone!!  I have always loved the discussions here, so I thought I would open a conversation about an interesting situation.

I have a client looking at a building - structurally sounds, bones are AWESOME. Building is prime for a LARGE restaurant on the main floor with large deck for the nicer weather, and a large upstairs perfect for a large apartment or perhaps even 2. 

What sort of lending would they be looking at for this? 
The property needs at least 150K worth of work - plus the applying for licensing, alcohol licensing, etc. 

Location is... decent. About 10 -15 miles from 2 larger city areas, and then smaller communities. 
I was saying that making it more of a destination venue - think Bridal showers, birthdays, weddings, etc. may be the way to go. 
But I honestly am not sure what sort of lending they would even be looking at for this sort of thing? 

Any advice? 

  • Jillian Kemmerer
  • Most Popular Reply

    User Stats

    154
    Posts
    70
    Votes
    Mike Davis
    • Lender
    • Annapolis, MD
    70
    Votes |
    154
    Posts
    Mike Davis
    • Lender
    • Annapolis, MD
    Replied

    @Jillian Kemmerer a Commercial HML REHAB loan possibly

    Loading replies...