How to choose and buy 1st hotel ?

[David Smith]

1.  Sources.    Loopnet lists some hotels for sale..   so finding a great hotel broker and buying off market is the best way to go?    Now is a good time to buy?   Maybe some distressed hotels. 

2. Location.   Prefer warm places..  so that hotels can operate all year around..    unless around ski resorts. 

3.  Management.  Will hire a management and learn to manage by self. 

4.  Acquisition process and due diligence.   SBA loans works?   What to note about the inspection checklist?

5. Post buying period.    Will try to sell in a few years after successfully operate it.