Texas Hard Money Deal - Active

800

None

No

Austin

Texas

$3,700,000

$800,000

$800,000

$5,000,000

We are looking to purchase (1) hotel in either the state of Florida or Texas. We have identified to potential acquisition candidates in both markets and are currently scheduling walk throughs before we make an offer. We want to purchase (1) hotel, re-flag the property and provide cosmetic improvements to attract a larger customer base. We will also market the property using conventional and new media protocols to provide our customers with greater value for booking with us directly (vs Priceline, or some other online travel service). Once we grow our business, we will prepare the property for sale. We are looking to run the business for approx. 5 - 7 years before we look for another buyer. We have owned hotels in the past and we currently have multiple real estate holdings in our portfolio (commercial and residential), but we do not currently have a hotel in our portfolio of investments. We would like to be preapproved for a certain amount before we send out our letters of intent to purchase a property. Once we make our decision, we will submit the property to the lender for review and further underwriting scrutiny.