Investors Needed for Napa B&B!

[Russ H]

I'm only half kidding.

We are not selling our B&Bs, yet (want to maximize the occupancy and have a better market).

But we have an opportunity that just fell into our laps.

In short, we'd need investors for a $600K property that could carry the loan for 1 year.

You supply the CASH-- or your good credit and downpayment for the $600K loan, plus do the payments for the first 12 months.

We would handle all of the red tape (Planning dept, building dept, etc etc).

And we'd convert the property to a 5 room B&B (current market value for that: $1,250K).

Conversion would take 3-6 months. Getting it to pay the bills would take another 9 months (1 year total).

Anyone interested, PM me.

Thanks,

-Russ H.

 

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[CactusWren]

re: Investors Needed for Napa B&B!

Hubby and I both wish we could join you on this one! Maybe in a few years...

Good luck!

 

[RealOG]

re: Investors Needed for Napa B&B!

Your PM is turned off.

 

[Russ H]

Thanks, RealOG-- I thought I'd "unclicked" all the boxes to prevent PMs, but I missed one.

If you could try again and let me know, I'd appreciate it!

-Russ H.

 

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[spiffed]

pm sent

 

[Russ H]

Got it.

Replies sent.

-RH

 

[G_Alexander]

Awesome Russ! Best of luck finding a money man (or woman) and best of luck on the deal.

Hope everything goes as smoothly as possible.

G_Alexander

 

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[unlimited]

Although it is not the best market for real estate at this time, I recommend you start local. B&Bs thrive in highly frequented tourist locations. Your location is obviously a very important factor.

1) Place a local ad in the Sunday paper - Seeking B&B Partner etc
2) Invite family/friends to invest or loan
3) Seek local angel investors (should be an angel investment group or real estate investment group in your area. Search Yahoo Groups in your area for Real Estate Investment Groups

Good luck!