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Question: My husband and I own an assisted living facility. It was a home and we remodeled and added three bedrooms. We have run the business for the past three years and we are looking at expanding in our market. We would like to purchase another property. What would our options be to finance the property build outs and FF&E (furniture, fixtures, and equipment)? We have a conventional loan on our property now. The property has a bunch of equity and our business is cash flowing well. What would be some good options? We have great credit, etc.
Laura
Timestamps
[00:46] Smaller ALF products or single family homes
[01:18] Doing expansion loan and get up to 100% financing on a new acquisition
[01:32] First option that you could use by doing SBA 7a loan
[01:51] Pull some equity out of your existing property
[02:09] The best thing to do if the money is just sitting there
[02:19] Know the beauty of SBA financing
[02:37] Buying million dollar properties
[02:50] Book a call with Beau to learn all the ways he can help you – http://bookwithbeau.com/