Motels - Bed and Breakfast - B&B and
Hotels
Hospitality Industry Lending
Stated income programs suspended.
Hotel / Motel and
Bed and
Breakfast B&B lenders financing loans are made easy here at MFI. We make loans for acquisitions, new
construction, refinance, and remodeling or expansions. We can finance hospitality up to 85% LTV and we can make loans that are cross collateralized
with other properties in many cases.
When it comes to
borrowing money for mortgages on Bed and Breakfast financing loans, it’s important to work with someone who knows your business. At
MFI, we are
specialists in arranging financing loans on motels and bed and breakfasts. We understand your
wants and needs because we have been
available for many other borrowers and owners just like yourself who wanted to start, expand, or
refinance a Bed and Breakfast or Motel. Financing your own B&B, what a dream. We work with you to understand your specific
wants and needs. We then
design a customized program to fit your stated goals.
Bed &
Breakfast Mortgage Loans and Financing of motels is utilized to obtain the B & B of your dreams.
However, it is often
the most difficult part. Unless the property you have selected is properly priced and the sellers have
sufficient financial records, Obtaining financing on a property can be
nearly impossible.
Options are varied and can include seller carry, bank, SBA, lease purchase, lease option, and other
creative approaches. Our investors / lenders make your purchase or refinance
easy.
Have you ever dreamed about
purchasing your own B&B property in a wonderful
destination spot? Do you want to do improvements like adding more rooms, remodel
the kitchen or add more amenities to
your inn? There are commercial lenders and investors ready to help bring your dreams
to reality. Learn
about your options whether you are looking for hospitality properties
to purchase or presently own a B & B or motel, you can benefit from professional
advice and connections to financial experts.
We currently have
lender / investors who are expanding their holdings in Motel and
Lenders Bed &
Breakfast financing loans for B&B. If you are interested in purchasing, expanding, or
renovating your enterprise, please contact us.
You will be buying the real
property, the personal property such as fixtures, furnishings, etc. and probably
will be paying for intangibles such as 'good will' as well. Your initial
investment or down payment will likely have to cover the intangibles, the
included personal property, and a portion of the real estate value. You need to
keep some cash in reserve for improvements you may want to make and operating
expenses initially.
When you buy a house, you would
usually have your pre-approval in place before starting to look at homes. It's
not that easy when buying a B&B because it's the combination of your
qualifications and the records of the specific property you're purchasing that
determines your "approvability". Though you can't get pre-approved when buying a
bed and breakfast, at least present a summary of your finances to your broker so they can
qualify you as a buyer and be able to accurately summarize you financial
situation to sellers and listing brokers. Get your finances together and
be prepared to
demonstrate financial ability. Your broker can counsel you on the best
inns for you if they know what you can really afford to buy. Many listing
brokers won't
allow a showing if they aren't informed of the buyer's ability to buy.
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