Looking @ Buying a Boarding Kennel
Ok, here'* the dilly.
We are very close friends with a couple that own The Natural Pet Center...a pet shop, grooming center and rescue endeavor. They purchased it from the previous owners over a year ago.
The previous owners also own a boarding kennel that sits on 10 acres and two houses 3 miles south of town.
It is for sale.
$220,000 buys you 10 acres, an indoor kennel facility, an additional barn/shop building, grain bins, other outbuildings, all fencing/gates, horse boarding facilities, and TWO HOUSES.
Look at it this way, $120k for the land/business and $50k per house.
We are looking at going into as partners with them and each living in the houses on site (we'd both have to sell our current homes....meh whatever)
We'd continue with boarding/grooming at the kennel location, plus keep running the petstore, and move the rescue animals out to the kennel rather than the limited space at the store.
Major question: How would you finance something like this? Would be be possible to take out an SBA loan for the business/property then take out separate mortgages on the houses? Or deed the land or what?
We are just in the preliminary stages of thinking about it, but I'd like as much info as possible.
Plus, I'd love to fulfill my dream of running a kennel!