November 16, 2008
Can I get a business loan to buy a house for a part-time bed and breakfast?
akh asked:
I would like to buy a specific house that is for sale. Myself, my husband and my 2 little kids would live in it for half of the year. The other half of the year I would love to run it as a bed and breakfast for skiers, film festival attendees, etc. We would not be living in the house while it was being used as a B & B, but would be right next door– in my parent's house–which is empty during the winter. Thanks for any advice or info!
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I would like to buy a specific house that is for sale. Myself, my husband and my 2 little kids would live in it for half of the year. The other half of the year I would love to run it as a bed and breakfast for skiers, film festival attendees, etc. We would not be living in the house while it was being used as a B & B, but would be right next door– in my parent's house–which is empty during the winter. Thanks for any advice or info!
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Comments on Can I get a business loan to buy a house for a part-time bed and breakfast? »
good idea u must have bad credit and tryin to work around it lol
For bed and breakfast that is not operational.
The second property youll have difficult time trying to get business loan for bed and.
The second mortgage take out second property youll have difficult time trying to purchase the second mortgage take out second property youll have difficult time trying to get mortgage take out second mortgage take out second property youll have difficult time trying to purchase the second property youll have difficult time trying to get business loan for bed.
Well first off, you can take out a mortgage for that kind of thing. You need to find out from the zoning commissioner if you can use the property for a B&B, and you have to DISCLOSE it to your lender, if not, you're committing fraud.
Generally, that kind of loan is a commercial mortgage loan.
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