Bed Breakfast B&B / Hotel
Motels - Bed and Breakfast - B&B and Hotels Hospitality Industry Lending
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 – 90% 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.