Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 10 months ago on . Most recent reply

User Stats

2
Posts
2
Votes
Lisa Jordan
2
Votes |
2
Posts

Financing for wedding venue and retreat center

Lisa Jordan
Posted

Hi! This is my first post and I'm hoping I'm in the right category. 

I have found a former wedding venue that has been listed for sale at $1.1MM. It is on over 10 acres with a 6BR/7BA main house, multiple guest cottages, outdoor event venue, and more. Before I get too deep in research, I want to know if financing is even possible. 

I can comfortably put 10% down with at least another 10% in reserves for any updates or furnishings. I have no personal debt other than my mortgage and car. My mortgage is almost 1/3 paid off. I have no business debt. My credit is good. I have not owned a venue before but have extensive event planning experience. 

This investment could be a wedding venue and/or a retreat center, has multiple STR opportunities, and could even be a working farm, which is something I am already side hustling in.

Is it possible for me to get a loan? If so, what types of companies would finance a project like this? 

Most Popular Reply

User Stats

392
Posts
308
Votes
Jonathan Bock
  • Financial Advisor
  • Bryn Mawr, PA
308
Votes |
392
Posts
Jonathan Bock
  • Financial Advisor
  • Bryn Mawr, PA
Replied

@Lisa Jordan

SBA could be an option especially since you want to keep the equity injection low.  

business profile image
Impact Advisors Group

Loading replies...