Updated about 2 years ago on . Most recent reply
Hotel seller financing
My uncle wants to sell me his motel. He is ready to finance it with 100k down which I have. Motel value is 1.2m. But it requires some renovation and i am looking for funds because he cannot finance renovation cost. If I get him 500k extra he said he will do it. What are my options? He is willing to be second position. But will a lender finance ? It is an independent 50 room hotel and I want to make it a franchise hotel which will bring in way more revenue then what we have now.