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Updated 3 days ago on . Most recent reply

Need help! Need hard money loan for business + RE deal cash cow assisted living home!
I am acquiring an assisted living home (RE+business).
RE appraised for $1,320,000
Business for $80k.
I have the RE portion already financed through banks but am needing $80k for the business to get the deal done.
I’m looking for $80k short term loan for at least 6 months so that I have enough time to get a more stabilized business loan. Banks are requiring I own the business for 90 days before getting a business loan. Therefore I need to close the deal, then own the business for 90 days to secure long term financing.
The home is currently cashflowing ~$10k/mo.
I’m free all day today to talk on phone. Currently under contract and have 2 weeks to get the business financed.
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I’ve been through two managers now and decided to recently take over duties myself remotely