Financing an RV park using an SBA 7a loan
Manage episode 352961853 series 2894492
By Beau Eckstein. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Question: I am looking at purchasing an RV park in the Midwest close to a lake. The business is mom and pop owned and has not been managed well over the past few years as the owners are getting older.
I don’t think the cash flow right now would show well from a banker’s perspective.
There is a ton of upside. I am figuring that property needs about $300k in upgrades. The asking price is $1,175,000.
What might be the best financing option?
Thanks in advance,
Elisha
If you'd like to meet with Beau to talk financing, book a call here ( http://bookwithbeau.com/ )
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