Creative Financing for AirBNB

[John Catlett]

Hello Everyone,

I am looking at a deal that could be pretty cool. This would be an AirBNB in wine country where there is already a very high demand for AirBNBs as their is no hotel nearby and other AirBNBs in the area are very successful. 

The structure I am looking at used to be an old schoolhouse (about 1600 Sqft) and our vision is to convert it into a cool/quirky AirBNB. It already has a bathroom but there is no kitchen. I spoke with my Broker and being that there is no kitchen they are not able to provide conventional funding. I am currently exploring private lending and seller financing options but in the event these options don't work out what other creative financing options should I look into? Any insight is helpful. Thank you in advance!

[John Underwood]

Ask for owner financing, even if for only 18 months to give you time to add the kitchen and refinance.

Explain why you need it to the seller.

You could also do a lease option and install the kitchen and then exercise the option.

Tell the seller the problem and see what they suggest to solve the problem.