Fantastic Cashflow ($27k/mo) - refi motel in New Hampshire
Hi BP!
My wife and I have 4 properties in NH (each are in their own NH LLC) with estimated value of 1.18M, with 291k of debt (on only 1 property). 24.6% LTV. For those familiar, the properties are in the Ossipee / Conway area.
The properties are:
- condo, purchased 2016, currently empty as it's on the market (cash to be used for other project)
- 2unit farm house, purchased 2017, longterm rentals, total $2k / month rent
- 3unit farm house, purchased 2016, Airbnb, averages $5k/month
- 19unit motel, purchased summer 2017, rented weekly. We just fired the previous manager & changed the model December 1st 2018. Now fully rented at $4,655/week (and increasing)
CASHFLOW
AVERAGE MONTHLY REVENUE - CURRENT
A) Condo = 0 (for sale)
B) 2unit =$2,000
C) 3unit = $5,000
D) motel = $20,000
Current Monthly Cashflow: $27,000
OBJECTIVE: Refinance the MOTEL property - which for several reasons was financed with a hard money loan.
Contact me for detailed breakdown of all of the above. I'm a US citizen who has been living/working overseas for 20 yrs ....we are in the process of moving back to the USA as I write this.
our electronic mail addresses are in the image below - to try to reduce spammers.
Thanks!
Parker