Financing an Income Producing Property

[Mark Humphrey]

We are considering purchasing an income making property and business combined, 10 acres 3300 sq ft home and barn. Venue is rented out for mostly weddings. Current revenue last 3 years (as worked part time) is 75-95k annual but is not near its potential of 150-185k annual. 

We have been working the business for our friends and they are interested in selling the property and business. We would occupy and grow the revenue full time. Property is estimated to appraise at 950k. total price is 1.1mm. We have 300k down. Seller has mortgage on property unknown amount possibly 600k.

Any thoughts on attaining financing.

[Andrew Postell]

@Mark Humphrey yeah, this is more of a residential forum.  Just post this in the commercial forum and that will get you better results.  @Chris Mason might be able to help some.  Also, just in case this helps, facebook does have many "real estate investor" pages that you can post something like this in as well.  You might get a few recommendations that are in your market doing it that way.

Hope some of that helps.