Hey everyone, I'm new to this site and happy to be a member. Doing some research but decided google might not have all the answers, so here I am.
I have been in the hotel/vacation rental/corporate housing industry since 2002. I'm 38. In 2013 I started and ran a luxury vacation rental business in L.A. and San Diego where I managed 65 units in several apt buildings. I have a ton of energy, connections and experience in the hotel/lodging industry.
It's always been my dream to run a B&B or small Inn but they are not cheap (obviously). I wish I had $1MM but that's not the case and I can't borrow that type of money from the bank. I have more than enough experience and know what it takes to be successful in this field, just lacking the necessary capital to purchase.
Any advice on how to approach an owner and work out another option besides the millions (or whatever price) they may be asking? Do you think it's possible to work out another arrangement?
All opinions, comments and suggestions are welcome. Thanks!
I have been in the hotel/vacation rental/corporate housing industry since 2002. I'm 38. In 2013 I started and ran a luxury vacation rental business in L.A. and San Diego where I managed 65 units in several apt buildings. I have a ton of energy, connections and experience in the hotel/lodging industry.
It's always been my dream to run a B&B or small Inn but they are not cheap (obviously). I wish I had $1MM but that's not the case and I can't borrow that type of money from the bank. I have more than enough experience and know what it takes to be successful in this field, just lacking the necessary capital to purchase.
Any advice on how to approach an owner and work out another option besides the millions (or whatever price) they may be asking? Do you think it's possible to work out another arrangement?
All opinions, comments and suggestions are welcome. Thanks!