Updated 6 months ago on . Most recent reply
motel buy and rehab
I am looking at purchasing a run down motel for around $1,000,000. It is currently occupied by "under the table renters" and needs about $100,000-150,000 of renovations. It is currently 10 units and has room for expansion. I believe I can rent a room out for 70-100$ a night, with low vacancy. The area this motel is located in is going to be walking distance to a lot of new attractions coming in 2026. I'd love to hear feedback on this as I am new to this type of project.
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Check for changes in zoning and building codes since it was built