financing for bed-breakfast - Posted by tom matteo


#1

Posted by Patrick S. Lawson on February 11, 2006 at 10:20:36:

Have you tried Eastern Savings Bank?


#2

financing for bed-breakfast - Posted by tom matteo

Posted by tom matteo on February 10, 2006 at 18:25:22:

i am a mtg broker in new york. i have a client that owns a bed-breakfast(motel). he is occupying the property. he needs to refi. his credit is poor 545fico. i am looking for a pvt investor that would fund the deal. he is willing to pay 9% for 10 yrs. his ltv is 75%. he needs about $750,000.property is worth about 1.1million. i cannot find a bank to fund the deal because of the property type and low fico scores. he needs the money to rehab the b@b. the motel is on the same deed as building and it generates good yearly income. he has about 50 boat docks that are operational.