Commercial Real Estate Investing

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Syed Lateef
  • Professional
  • Chicago, IL
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Airbnb Operator wanting to buy Hotel

Syed Lateef
  • Professional
  • Chicago, IL
Posted Jun 20 2019, 23:04

I run an Airbnb short term rental business in Chicago and getting close to 100 units under management. I master lease properties

I have a substantial operation supporting my current volume. 

Guests Services, Operations, Marketing, Pricing, Finance, Cleaning team, Handymen etc.

I am interested in the idea of purchasing a boutique hotel and run it within my current systems.

I have no experience in finding a hotel, market value of them, or anything.

My questions stems from do you think it would be an easy transition to operate the business side of the hotel with the infrastructure i already have in place? 

What would be the best way to find out hotels for sale in Chicago? Theres literally just 1 on loopnet. 

Are hotels valued by the NOI of the business divided by the cap rate? That would over value you the real-estate if thats the case. But i guess i am buying the real estate and the book of business as well
How do banks finance Hotel purchases

What are other things i should consider when looking to get into this type of business/real estate purchase. 

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