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Updated 8 months ago on . Most recent reply
Refinance on a Residential Assisted Living
I have a renovated house in Arizona suited for residential assisted living (RAL). I was told I cannot do a conventional CASH OUT refinance once I lease it to an operator of RAL since lenders do not lend if you run a business in your house. Is this correct? If yes, what are alternative methods to tap into its real estate equity after signing a multi-year lease with an operator?
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#2 Creative Real Estate Financing Contributor
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Quote from @Shahrouz S.:
I have a renovated house in Arizona suited for residential assisted living (RAL). I was told I cannot do a conventional CASH OUT refinance once I lease it to an operator of RAL since lenders do not lend if you run a business in your house. Is this correct? If yes, what are alternative methods to tap into its real estate equity after signing a multi-year lease with an operator?
I actually do not think that is true:
https://selling-guide.fanniemae.com/Selling-Guide/Originatio...
- Jay Hurst
