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Updated 7 months ago on . Most recent reply

User Stats

50
Posts
39
Votes
John C.
39
Votes |
50
Posts

3 year Financial Partner for 2M and 3M Bed and Breakfasts

John C.
Posted

I own 100 buildings, most of which are 1-4 units. Many of them are encumbered by a low ltv loan to a friend who helped me get started. I've agreed not to pay him back for 5 years.

I also own a few bed and breakfasts and million dollar STRs.

I am looking at acquiring two bed and breakfasts whose prior owners did not keep good records or shut down because of Covid. 2M and 3M sale prices. I know I can acquire them, get them running well, and SBA 504 refinance them in 3 years. Banks are saying no to me on initial acquisition. I am looking to find a low doc capital source to acquire them with a three balloon. I can bring about 100k for each deal to the table and some second positions on my other properties.

How would I go about finding someone to partner on these?

Most Popular Reply

User Stats

544
Posts
226
Votes
Brandon Croucier
  • Lender
  • Newport Beach, CA
226
Votes |
544
Posts
Brandon Croucier
  • Lender
  • Newport Beach, CA
Replied

A Cross Collateralization loan would be the way to get this done, since you have a lot of equity, you may not even need to bring any cash to the table on this

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