We wanted to purchase an investment property in Lincoln City, Oregon. The property is Hotel/Inn and Sale price is 179,000. How can I find out the vacancy rate of the room occupancy?
Is this a condo hotel? The economics are very different than ordinary condo investments because you will be relying on the complex manager to fill your room. Your best bet is to find other investor-owners to find out what their experience has been like. You can probably find contact information at the county recorder's office. Oh and do not rely on someone who is trying to sell you something without verifying the information. Good luck.
I would ask your realtor to get the financials. They would probably want to have an offer on the table before releasing that information.
If this is a condo-tel it may be a challenge to finance. I would check with your realtor for rental numbers and your lender to see if it is financeable.