My wife and I have been trying everything possible to get financing and/ or funding to be able to buy 2 small motels in the same town. The smaller of the 2 would continue being run by a former teacher of mine. (His mom died in November and his family wants to sell, but he does not want to leave. It's been his home, off and on, for the last 50 years.) It has only 4 large rooms, but there is room to expand. The other motel has 17 units and is busy year around. We would also want to expand that one. The improvements would definitely bring guests in, which would mean larger revenues. We both have the knowledge and experience to run a motel and hire employees. Our credit isn't good enough at this time, nor have we ever made this large a purchase. We are SEEKING INVESTORS, PRIVATE LENDERS OR DONATIONS in order to make our dream come true. The two properties also have PERSONAL SENTIMENTAL MEANING to me and we would SERIOUSLY like to be the NEXT OWNERS of both.  Thank you for your time.
124999
Writing a business portfolio would help.  Include in it details pertaining to what you and your wife do for a living and what experience/expertise you both have in the motel business. Also, details as to what the exact cost of the improvements you want to make and what the exact increase in revenue you are expecting in return.  Then you should research the value of the properties and the projections of what the property will be worth in the future.  Provided the property value is projected to go up as well as the increased value of the property from renovations, writing it all down in a presentable fashion will often convince investors that if you default on the loan it would behoove them to foreclose as they will have had someone else do all the work of researching and improving the properties.  You should be aware that bad credit always leads to high interest rates on any loans.  Lastly, trying to find millionaire investors on a website like this one is a sign of desperation.  Investors like confidence.
394902
Contact me with the MLS number or address, I might have a buyer for you. I am a licensed real estate agent in Orange County and I work with investors who are looking for great deals in today's market.\n\nRegards
585996
I am a real estate broker in Davidson County North Carolina and one of specialty areas is working with investors.  I am also an investor and my husband is a builder/remodeler/investor.  I have been in the business for 9 years.\n\nI have sold many homes to investors for rentals  and for resale.  I also advise new investors in  different exit strategies.  \n\nI would be happy to work with you if you were interested in investing in my area of North Carolina.
177587
We, as you and somebody else... Let that be the first RED FLAG... Not only do you not have the positive cash flow yourselves but you dont even know anybody to ask... This is getting off to rough start... I'm not being negative, just real... Restaurant and bar biz is no joke when it comes to trying to make a buck... Especially when you have to pay back most of what you make in the beginning... Think about it... Good luck!
223436
A fully furnished house with 5 bedrooms, 2 baths on 20 secluded acres in Wisconsin. A new mini-van or SUV with third row seat, loaded with all the options. A fully furnished business with items of my options so I have an income for future needs. A college fund for each of my children. Man how I wish this could happen! I would give almost anything in the world for this to happen!!
501111
A Lot of the major Motel Chains have a buffet.  The Marriot, Holiday Inn, etc.\nCheck your newpaper ads.
485179
My apartment building burned to the ground on January 26,2003.\nApproximately 30 people including myself lost every thing they owned. I lost my car when the building collapsed and managed to walk away that morning with just my daughter, my dog and my purse. \nPeople from all over the county came together to make sure every family in that building had a place to stay that night.\nChurches and civic groups arranged to have furniture and housewares donated by merchants in the area, families donated \nclothes, housewares and more furniture.  Total strangers donated $ to a fund set up to help each family get into a new apartment and to make sure their utilities were connected.\nI worked at a car dealership @ the time and the owner of the dealership gave me a car to drive until I had saved up enough $ to pay for it.\nI had $96.00 in my bank account and an 8 year old daughter to support and was left with absolutely nothing due to something beyond my control and total strangers chose to help me and make sure that I had everything my family needed to get on with our lives.\nI have a completely new understanding of what people's kindness can do. I want to be able to make people realize that you can start over, all you may need is a hand.
303388
Try the fairmont. It's a block from Michigan Ave. right downtown. I believe it's a 5 star and I've gotten rooms there for $137 a night. You have to check by calling the front desk directly to get the best price.
573423
Well written article.  \n\nHaving just sold a home in the town immediately north of Port Charlotte, I can tell you that the market there has gone flat.  We were able to sell because we put a realistic price on our house.  The 1/2 dozen others on OUR STREET that were for sale when we put ours on the market remain on the market today.\n\nThe woods across the street from our old house are being turned into homes that are selling for upwards of $500,000.  Mind you, the same builder was selling the same houses in another development 2 years ago for 1/3 of the price.  I wish the new owners luck in being able to afford homeowners & flood insurance.\n\nAll over the area in Sarasota & Manatee counties the market has gone flat.  Too many people trying to cash in on the post hurricane demand for existing homes.  Made everyone's property taxes go through the roof.\n\nWe moved out of Florida, to a part of the country where you can still afford to live.
507422
For my kids' Quarter Midgets, we usually ask local businesses that we patronize.  Some of them are large distribution companies that my husband deals with through his work.  I know you need cash on a larger scale, but think about larger industries & companies in your area.
421874
My personal opinion of these places is horrible. I went to one, and for a 700 dollar living room suite, they wanted over 1800 dollars for a used one with cigarette burns in it! I wouldn't do it. I would do one of two things. I would get a secured credit card, and you get that money after a year. US Bank is a good place to go for that. I would go somewhere and use a co-signer with a 12 months same as cash plan. That way, you get the credit, but you don't have to pay anything for the interest.
59341
There are a few things to consider here... I've been in the rest/bar business for years.  (What IS your JOB?) I would try, at least for a while, to do BOTH... starting your own business requires a lot of committment. (I own a Flower Shop and worked nites in the bar business to help pay the bills) If you are able my suggestion would be to keep a day job, and work the bar evenings... it would eleiminate the need for additional help and the tips could also be used to help with finances.  PLUS any bar that I have ever worked in has done better if the OWNER is actually a part of the team... rather than someone who comes in takes the money and makes the deposit.  You obviously like the industry... jump in w/ both feet and be available as much as possible... it is YOUR business - be as big a part of it as you can.
634233
My parents had 2 lots in the same general area.  We always got postcards from land prospectors wanting to buy the land.  Also, building companies are looking to buy lots in Cape Coral.  Contact Holiday Builders.  They don't offer as much as most people would, but it is a quick sell.\n\nBy the way, land there is skyrocketing.  It's a good investement if you can hang onto it.
166102
I bought a foreclosed home last year.  We found it in the MLS, just like the other homes.  Our Realtor showed it to us.  There was a bunch of extra paperwork.  The home had been vacant for 2 years, and was not well maintained prior to that.  It took 6 weeks from the bank accepting our offer to get a closing on a cash deal.  When we got the power turned on the fridge, furnace, and hot water heater did not work.  We are still renovating, but it will be nice one day.  My best advice to you is to locate a Realtor.  Happy house hunting!
246723
Hey churish imp,\nConsumer Guide ran some interesting stuff on motels, but it was quite a while back. You have to be more specific, like: do they allow pets?\nspecific credit cards? do they give AAA or other discounts?  Do you really think they change those pillowcases and sheets for new guests, and hope they have plastic throwaway drinking glasses.\nThe popular ones are successfull for a reason.\nI heard the new thing now is checking for bed bugs-have fun
497274
I would definitely have concerns about the resale of the house. Fewer and fewer lenders are writing loans for No Fines homes, and unless you make substantial upgrades to the exterior insulation and windows (or the previous owner did) you may have a hard time finding a buyer. It's very hard to predict the future but if you can get any idea from your realtor or lender about how many lenders are still writing these loans, and how that percentage has changed over the years, you may have a better idea how likely a future  buyer may be to get their financing.
478526
My answer will have three parts:\n\n1. Make your rental deal more attractive to lessen your fundraising needs. \n\nMichigan real estate is experiencing a huge downturn currently. It has become increasingly difficult for owners of strip malls and other commercial property to find tenants for their buildings. You may be able to negotiate a deal that requires no money down at all. Especially if there are vacancies in the location you are attempting to move to. Explain to the owner that you have a strong background in the type of business you engage in. Don't begin to explain why you do not have enough funds for downpayment or anything of that sort. Point out to the owner that another commercial property has becom available to you with no money out of pocket required and they may lessen their requirements. Building owners need to retain certain occupancy rates to remain profitable and keep their property out of foreclosure. Use this dire need for tenants to you advantage! \n\n2. Fundraising \n\nI find that most business owners have fund fundraising in the initial phases of their businesses from families or friends. Approach the people that are already in your life, they know your business experience in your field and have seen you succeed at your current location. Structure a program to get a little contribution from a few people rather then looking for one single person to give you the whole amount that you are looking for. Essentially sell "stock" in you business. \n\n-Show sales and profit numbers for the last two years.\n\n-Have a detailed business plan. \n\n-Explain how this particular location/store would be advantageous to your business. \n\n-Show how you plan to advertise and attract customers. \n\n-Give a realistic expectation of what your expenses would be (staff, electric, heat, advertising, promotions, etc.)\n\nTreat family and friends as you would any other investor and have a "formalized" meeting with them. You want everything to appear professional and well thought out. \n\nThe last piece of advice I would give you is to find a possible sponsor. When kids trade cards and play it keeps them off the streets and out of trouble. Offer to host tournaments so many times a week and show how this can benefit the community and make parents feel good about their child's activity. That approach could possibly help you get sponsorship from certain churches, other local businesses, family support groups, etc. \n\n3. Credit options\n\nEven if you have bad credit you could possibly use another piece of property or vehicle that you own as collateral for a business loan. With this option you also want a professional well though out business plan.