Healthcare . . . everyone needs it sooner or later. However, not every healthcare provider can get a real estate loan.
Banks like big balance sheets and net leases to national tenants. So if you are looking for a loan on a hospital, assisted living or skilled nursing facility . . . you’ve got problems doctor.
There is always HUD. Get a loan from them and you are now in the accounting business. So how does a start-up or entrepreneur fair in this closed society of healthcare lending? Usually not well.
So how do I get a loan?
- First you write a business plan that explains your business.
- Then make proforma income and expense models.
- Get an operating lease on your property, even if your other entity is the owner.
- Raise money for equity, because loan-to-values tend to be lower on entrepreneur lending.
- Then get into your market segment and area penetration and explain it. Support the property value with comparable values, location advantages and lots of pictures of your property.
- Most importantly believe what you are saying, as most lenders will not. Become an expert and an advocate of your lending opportunity.
- Find a lender who will listen and talk to them.
If you cannot find such a lender, then call me.