Updated almost 4 years ago on . Most recent reply
Purchasing a hotel portfolio
I'm located in the Las Vegas area, I have bought and sold properties out of state in Memphis TN. An investor friend of mine is looking to sell off some of his portfolio. He is getting older and wants to cash out and I feel that this would be a great opportunity for someone like myself to get into the commercial real estate realm. The portfolio consists of two franchised hotels in Las Vegas ex. Hilton Hampton Inn.The current market value for the hotels is approximately $60,000,000. As someone that has not syndicated this amount of capital yet, where would you suggest I would start? The thought to wholesale this deal to a more savvy investor or group sounds appealing as well. For the most part, I am looking for help and guidance on how you would approach this great opportunity.