How does my family buy a florida hotel for a good price?
Mr. Joe asked:
My family is interested in buying around a 12 unit vacant hotel to own and run for ourselves. Are there any recommendations for going about this. Is there a certain area where deals are the best for buying and flipping a hotel that would make money?
James
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My family is interested in buying around a 12 unit vacant hotel to own and run for ourselves. Are there any recommendations for going about this. Is there a certain area where deals are the best for buying and flipping a hotel that would make money?
James
September 28th, 2011 at 10:57 pm
Andrew
Yes hire a real Estate Broker and give him/her your specifications
October 2nd, 2011 at 4:42 am
Mason
for your family’s sake, i hope that someone with a lot of experience is in charge of this project.
all commercial real estate is bargained over. bargaining power and ability to produce income are extremely complex subjects, which can’t be begun to discuss here. Serious real estate investors spend years learning what to look for, how to spot a deal, and how to bargain for a deal that’ll work out well. If they’re going to operate the property as a business, they invest their time learning how that particular business is done.
just jumping in is how you lose money. That’s ok if the point is to learn to do things right before you invest serious money, but is otherwise foolish and wastes time and capital.
October 5th, 2011 at 6:49 am
Abigail
Flipping property has pretty much been out of the news for the last few years. Mortgage requirements Ain’t what they used to be.