I recently opened an addiction treatment center a few months ago and it has been doing really well. The "center" is at a residential home where we treat the patients and provide 24/7 monitored care. We are finally breaking even and I accept to do exceptionally well when I start receiving insurance checks for treatment in the next few months.
I am currently renting the facility we are in which brings a lot of uncertainty. Will the owners sell, raise the rent, etc.? I really need to purchase a residence to focus on the longer term goals of the business but given we are a startup, we do not have the traditional 25% needed for a down payment. We are looking at several properties ranging from $2M-$3.5M ( the market is insane right now where I am). I will also we are on the higher end of treatment centers so I am getting a 4-7 bedroom place on land for that price.
Are there any non-traditional forms of financing I can look at to acheive this goal where I just have a monthly mortgage payment and no down payment? There is a degree of risk however, I have excellent personal credit, tax history, and the business financials and projections are good. Any help or direction would be greatly appreciated!
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source https://www.reddit.com/r/RealEstate/comments/n1k0su/financing_to_purchase_residence_for_addiction/
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