found our dream B&B, only one problem

Trying not to get too excited here. While at the B&B conference in WA, I went and checked out several B&B's that were for sale, None of them were exactly what we were looking for and I was about to give up when I remembered one, that we took off our list because we felt it was too far out of town. But I mentioned it to our realtor and he said he'd see if he could get us in to see it. Well, turns out the 'name' is very misleading and it was only 1 mile outside of town! I instantly fell in love with the place!
Called my hubby, and it happened that he and my son (both at home) were on line at the very moment, looking at that very property saying..."its the one I'd really like to have"! Wait, it gets better!.... After one of the seminars at the conference, I was able to speak one on one to the guy who presented on finances. We talked for an hour and half! Then on the flight home, I sat next to the "GM of Red Lion hotel". AMAZING right? I told her about my B&B and selling it and wanting to get this other one. She was awesome and gave me so much information, and contacts etc... We were friends almost instantly! She really was wonderful!
So This "nearly perfect" B&B that we want has a small problem. They really haven't been running as a B&B, and they don't have a website (they don't need the money). We know they did have a few weddings there, we found old online photos of them. But..its not an 'up and running' B&B with revenue coming in. And the name DEFINITELY has to be changed!!!
AND, The BIGGEST CHALLENGE of all, ....... We have to SELL this place first!!!
If you are a praying person, please remember us in your prayers, that we'd sell this one soon. Thanks so much!

How exciting. A new place and a new start. Part of me pangs for the excitement of starting a fresh, building up a new business.
I hope things go to plan for you.

May the stars and everything else align for you. How exciting!!

Was going to say "just one problem" just having one problem is great! LOL
However _ what is the status with permits and so on? make sure they arn't attached to the current owner!
Also with a good web site, online booking, very careful spending on advertising etc it could have great potential - however will the bank lend money on its books?

Will keep you in our prayers-as K put it may the stars align for you, that is great-you know so many coincidences could mean that its meant to be-even if it takes a little more time.

[email protected] said:

Was going to say "just one problem" just having one problem is great! LOL
However _ what is the status with permits and so on? make sure they arn't attached to the current owner!
Also with a good web site, online booking, very careful spending on advertising etc it could have great potential - however will the bank lend money on its books?.

Click to expand...

[email protected] said:

Was going to say "just one problem" just having one problem is great! LOL
However _ what is the status with permits and so on? make sure they arn't attached to the current owner!
Also with a good web site, online booking, very careful spending on advertising etc it could have great potential - however will the bank lend money on its books?

Click to expand...

This is all stuff we have discussed and are currently looking into. Our broker there is checking into it all with us.
as far as banks, the current owners said if not the banks, they are willing to carry the contract. If we go that route, we'd give it a year, and work really hard to build up the business then refi with a bank or sba.

Keeping our fingers crossed for you!

Sunshine said:

[email protected] said:

Was going to say "just one problem" just having one problem is great! LOL
However _ what is the status with permits and so on? make sure they arn't attached to the current owner!
Also with a good web site, online booking, very careful spending on advertising etc it could have great potential - however will the bank lend money on its books?.

Click to expand...

[email protected] said:

Was going to say "just one problem" just having one problem is great! LOL
However _ what is the status with permits and so on? make sure they arn't attached to the current owner!
Also with a good web site, online booking, very careful spending on advertising etc it could have great potential - however will the bank lend money on its books?

Click to expand...

This is all stuff we have discussed and are currently looking into. Our broker there is checking into it all with us.
as far as banks, the current owners said if not the banks, they are willing to carry the contract. If we go that route, we'd give it a year, and work really hard to build up the business then refi with a bank or sba.
.

Click to expand...

Nice one!

Good luck! Sounds like something worth looking into more...