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Looking for Hotel/Motel with Owner Financing Have no money but yrs of operational experience.

Man and Wife team with over 20yrs of Hospitality Experience.

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Answers (5)
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Carson Grant Loan Company
Affordable Loans
Los Angeles County, CA

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Feb 9, 2017
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Hello!

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Aug 16, 2016
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hello---Our names are Ross and Beth Benami-v-----Together we have 30 years of hotel experience and we use to own our own hotel. We owned a Super8 and later we dropped the franchise used a non- franchise name. later we sold the property--took a tiny profit not enough to buy at another location. if given this opportunity --we wll gladyly to our best We know this economy has hurt all kind s of business. But together we know we can make it work. I know it is easy to say we will make ,but our experience and knowledge of all aspects of hotel business is something we know .we understand ,we make it easy and off=course profitable.In the hotel business high occupancy and low over head cost is the formula. Well---i will supply my e-mail --thank you

Nov 24, 2010
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We have been looking for an RV Park to purchase and was referred to the below listing from a yahoo group forum member. We love the motel rooms but are set in our decision to have our biz be 95% - 100% RV sites vs motel lodging, so that we can choose to operate on a seasonal basis. So, just passing this on to you as there may be a better fit for you. I suggest calling the owner, nice older man who unfortunately lost his wife not too long ago. Best of luck!

Oct 20, 2009
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The BAF Group LLC
MD

As tough as it is to say - and tougher for your to hear - sometimes there are scenarios that are hopless. Is your wish hopeless? No - but I can think of nothing more difficult, other than perhaps hitting the Mega Millions Lottery at odds of 200 million to 1.

There are an incredible number of people out there with money, who want to buy Hotel/Motel operations. I can sell a Motel in about 90 minutes, frequently to Cash Buyers for deals up to about $6 million. The ones I cannot sell are because they are in such horrendous shape, or so terribly maintained, or so incredibly overpriced that no one that has any vestige of experience and financial understanding would touch such a property.

I am saying this not to be harsh or demeaning, but to illustrate a point and provide some sense of understanding of the issue you are asking people to accomodate. Motels are one of the most competitive types of businesses in the market today, in spite of the fact that many are experiencing financial difficulty at this particular time. We can still find people with money to purchase the vast majority of them.

Even if you said, "We have $X dollars, but that is not enough for a conventional loan..." you would be far better off than admitting you "...have no money..." People that offer Owner Financing don't off such financing with no money down, any more than the banks do.

You need to beg or borrow from friends, family and interested others, if you want to even think of trying this kind of acquisition. And that money needs to be a serious amount. Even if the Seller offers financing, what about Operating Funds? You cannot go into a business like that without any money. It is a recipe for disaster, which is one of the many, many reasons why an excruciating few number of Owners would work with you on this basis.

Oct 20, 2009

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