For businesses like assisted living facilities or sober homes, finding the right property is crucial to success. A Contract for Deed provides a flexible and accessible way to secure residential properties tailored to your operational needs.
By working directly with sellers, you can negotiate terms that support your business goals while avoiding the delays and challenges of traditional financing. Whether you’re expanding or launching a new venture, Contracts for Deed give you the agility needed to thrive.
Other Business Uses for Residential Property
Assisted living facilities and sober homes present significant opportunities for the contract for deed process in Minnesota, where investment properties are now the primary focus. Both types of properties utilize residential spaces for essential services, aligning well with contract for deed regulations. Assisted living homes provide care for the elderly or individuals with disabilities in a residential setting, while sober homes offer supportive environments for individuals recovering from substance abuse. These ventures are ideal for contract for deed financing due to their stable income streams and long-term operational needs.
Other potential uses for residential properties in the contract for deed process include short-term vacation rentals (e.g., Airbnb), corporate housing, daycare centers, group homes for youth or individuals with special needs, and transitional housing for the homeless or at-risk populations. Not-for-profit businesses, such as community outreach centers, halfway houses, and shelters, can also benefit from contract for deed financing when using residential properties for operational purposes.
Additionally, small business owners can leverage contract for deed financing for home-based businesses like private tutoring, wellness services (e.g., massage therapy, personal training), or professional services (e.g., accounting, consulting). These diverse applications create ample opportunities for investors to utilize residential properties for business growth, supported by the flexible and accessible financing offered through the contract for deed process.
As a business owner, F.M. from Minnetonka found himself frustrated with banks undervaluing his financial situation. Running a successful company meant significant expenses, which impacted his reported income, making traditional financing difficult. Chad Banken understood the struggles of self-employed borrowers and structured a contract for deed solution that allowed F.M. to purchase a home while maintaining his business operations. The process was just as straightforward as a conventional mortgage but without the hurdles of proving traditional income. Now, F.M. not only owns a home but has the financial flexibility to grow his business. A Good Deed, LLC provided him with the financial bridge he needed to balance both personal and business goals.
Next Steps
Chad Banken and A-Good-Deed excel in helping businesses leverage residential properties for commercial use. With a deep understanding of Minnesota’s regulations, Chad ensures a smooth process tailored to your unique needs.
