All Forum Posts by: Dan Cho

Has anyone ever gotten a loan for a hotel? I'm interested in obtaining a hotel for $2.2 mil and the seller is offering finance for $500k down. I currently have $200k down and was wondering how I could go about obtaining financing for the rest of the $300k?

@Kyle Davis Hi Kyle I'm in your position too, recently came across a great hotel deal for $2.2 million w seller financing with $500k down. I'm not too familiar with the hotel industry but have a few friends in it and came across this deal. Could you tell me how you went about analyzing this deal? who did you talk too first? how did you raise the money? where do you find hotel feasibility group? Thank you.

Has anyone ever gotten a loan for a hotel? I'm interested in obtaining a hotel for $2.2 mil and the seller is offering finance for $500k down. I currently have $200k down and was wondering how I could go about obtaining financing for the rest of the $300k?

Has anyone ever gotten a loan for a hotel? I'm interested in obtaining a hotel for $2.2 mil and the seller is offering finance for $500k down. I currently have $200k down and was wondering how I could go about obtaining financing for the rest of the $300k?

hi I know this was posted a year ago, just wondering if it was still available?

So I'm also having problem with this particular property with what market rent should be. The issue is that it's quiet unusual, the building is is attached but is not visible from the road so there is just a sign in front saying that there's a car rental agency there. With other building I know it's visible from the street so I could do apples vs Apple but with this I don't think there is another place like it to compare with in town. I was thinking maybe of talking with a broker, who could give me insight what do you think?

yea I was thinking the same thing. But got the 4K tax from San Francisco county assessor office, which can be checked online. I'm wondering if it would just get reassessed after purchase? I heard there was a weird law back in late 1970 where you could lock in tax rates for anything prior to that year. 

hi all thanks for your input. Got all the details from seller and have decided to proceed with purchase as the numbers make sense and I got a cap rate of 8%

So recently bought a building with 2 tenants inside with leases ending toward December. One is just a mom and pop store so I know I can just walk over to them and talk with the owner. However the other is a large rental car agency, who would I talk to and negogiagte lease rates with exactly? The store manager? Parent company? 

Can someone say how no income verification loans have changed today vs prior to 2008?