Loan advice for a resort.

[Nickolas Poce]

I'm looking to buy and run a resort. I found a lender named Steve Mayer of finance holding co. I told him my credit is isn't great and that I recently found out that the resort I was interested in doesn't have any financials because the owner used it for family and friends. 

He didn't say anything about my credit and suggested I secure the loan first then find a property. 

Is this normal?

[Chris Seveney]

Quote from @Nickolas Poce:

I'm looking to buy and run a resort. I found a lender named Steve Mayer of finance holding co. I told him my credit is isn't great and that I recently found out that the resort I was interested in doesn't have any financials because the owner used it for family and friends. 

He didn't say anything about my credit and suggested I secure the loan first then find a property. 

Is this normal?

 Without financials a lender will value real estate only and not as an operating business, or it will be tough to value. This will make it much different to finance. What you should always do is speak to lenders to see what you do qualify for (if anything). If no lender will give you financing because of your credit - then focus your time on rebuilding your credit and not going after properties you cannot buy. Hope this makes sense