SBA loan - Posted by Darla NC

Posted by brad on July 10, 2002 at 11:17:57:

how about if you put a laundry mat in the back? it wouldn’t be your fault if you had to develop the other land as you went…lol

SBA loan - Posted by Darla NC

Posted by Darla NC on July 09, 2002 at 18:13:22:

Has anyone on this site ever applied for a SBA loan? I am in the process of setting up small rental park- need funds to finish 3 county approved lots. Read Doc’s post on renting instead of owner financing, and I think in the long term it makes more sense, not to mention the tax advantages to owning rental property. My 1st mobile is almost ready for final county inspection, then I start on other 3. Any creative financing ideas out there? p.s. Love this site!

Re: SBA loan - Posted by Mark

Posted by Mark on July 09, 2002 at 19:42:21:

SBA won’t lend on R/E intended for use as passive investment vehicle.

Re: SBA loan - Posted by Chuck

Posted by Chuck on July 10, 2002 at 17:34:48:

Like hell they won’t… punch “FHA 207(m)” into any search engine.

Don’t expect the government to know what the heck they’re doing, let alone how it works in practice… just take advantage of it.

Anything that throws off “passive income” is a “passive investment” in my book.