special use property type funding
GET THE STORY (let me repeat, get the story)
(owner occupied and income producing)
What is special use?
Special property types is real estate that has special use. Properties that cannot be converted or are not designed for a variety of uses. The basic types are most often funded are multifamily, mixed use, office/retail, light industrial.Car washes, gas stations, daycares, medical office, hospital, sports arenas, and many many more are classified as special use and are difficult to fund and almost never fund at high ltvs and most often even 80%.
Assisted Living Facilities and Adult Congregate Living Facilities
car washes
Assisted Living
Bowling Alleys, Skating Rinks, and Golf Courses
Free standing churches
Churches
Bed and Breakfast / non branded hotel and motel
Student Housing -
Gas Stations -
/RV Parks -land value is the key here
Heavy Industrial - Heavy machinery.
The key on attaining financing on these non-conventional property types is having a well written executive summary and a loan that makes sense. In other words, if you are looking for 100% or high ltv financing try owner financing, because generally its not availabe as a private money or bridge loan. .
Loan Summary (download form) use this form to submit a loan request. This will ask most questions to determine if the deal is something a hard money investor would have an interest in funding.
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Hard money loans may be used as a temporary solution to obtain funding for re-finance or a purchase of commercial, invesment or residential property. Hard money loans for refinance are often needed where quick, non bank conforming funding can help to make a deal work.