Seeking Lender(s) for Purpose-Built STR Project in Muskoka, Ontario, Canada
December 21, 2024
by a searcher from University of Toronto in Toronto, ON, Canada
We are developing a unique short-term rental property in prime Ontario cottage country and seeking recommendations for lenders who specialize in financing such projects. Key details:
- Funding required: $400,000 CAD
- Property: Modern, compact cabin to be built on already-owned 0.5-acre lot
- Market: High-demand vacation rental sector
- Financials: Projected strong cash flow, meeting DSCR thresholds
- Status: Preliminary approval obtained
Project highlights:
- Land already owned, reducing overall project risk
- Essential amenities for resort-style stays
- Professional property management in place
- Substantial personal capital available
- Guarantor(s) willing to support
We're particularly interested in lenders experienced with:
- Purpose-built short-term rentals
- Construction loans for vacation properties
- Alternative lending options for unique projects
If you have experience with or can recommend lenders suited for this type of venture, we'd greatly appreciate your insights. Please share any relevant contacts, institutions, or advice for securing financing in this niche market.
Thank you for your expertise and recommendations!
from McMaster University in Toronto, ON, Canada
Are you looking for additional or alternative land in Muskoka. I have a property available that is perfect for a short term cottage business and/or resort. Let me know if interested and we can go over the details further.
from Wilfrid Laurier University in Toronto, ON, Canada