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Updated over 4 years ago on . Most recent reply

Account Closed's profile image
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Account Closed
  • Investor
  • from Dedham, Maine
  • Member since Jan 23, 2016
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Account Closed's profile image
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Account Closed
  • Investor
  • from Dedham, Maine
  • Member since Jan 23, 2016
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Account Closed
  • Investor
  • Dedham, ME
1
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12
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Private Lending & Conventional Mortgage Advice

7A SBA Loans for Office/Rental Maine

Account Closed
  • Investor
  • Dedham, ME
Posted

I'm trying to find some information on utilizing the SBA 7A loans for a property that I would use as an office and rent out the remaining rooms as residential rooms.  Does anyone have any experience with this?

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Patsy Waldron's profile image
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Patsy Waldron
  • Rental Property Investor
  • from Orlando, FL
  • Member since Jul 19, 2016
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Patsy Waldron
  • Rental Property Investor
  • from Orlando, FL
  • Member since Jul 19, 2016
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Patsy Waldron
  • Rental Property Investor
  • Orlando, FL
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Patsy Waldron
  • Rental Property Investor
  • Orlando, FL
Replied

Check whether you are allowed to rent out the rooms if you buy the building using SBA financing. I am not sure SBA allows recipients to use its funds for real estate investments (which it would arguably be, even though you say you will use part of the building for your own office). 

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