Motel Plus / Seller Financing-Trade
One of my business partners has a decent motel package for sale. I felt it was worth running by everybody here at BP:
It is a 16 unit motel, plus 2 apartments, plus a 2 bedroom house. He is selling it on land contract, and here are the numbers: It is grossing a little over $100,000 a year. Expenses, including the land contract payments, are $50,000. So it is net cash flowing $50,000 a year.
His asking price is $275,000 with $100,000 down. BUT... he will accept $33,000 down with a reasonable trade (car, van, boat, RV, another house, etc.) He will credit the $33k plus the trade as the full $100,000 down payment. And the balance would be the $175,000. (He's somewhat flexible on the payment, terms, etc. on the balance).
If interested, please let me know. You can write me here or call: [PHONE NUMBER REMOVED]
Thanks.
Tom