ok, here is my problem:
Im trying to buy a hotel in my area that has been closed for about 5 years, due to sewer problems.
i'v been in touch with the current owner and he wants to sell it to me. I need investors to buy 10% of the hotel at the cost of $375,000 each (8 investors).
the hotel has 143 rooms, 3 meeting rooms, restaruant, bar, and indoor swiming pool.
It was built 30 years ago as a Ramada Inn. at the cost of $2 mil. just the building alone is worth $4.2 mil.
when open it is going to be worth over $5 mil
I'v talked the owner down from $1.7 mil to $1 mil.
I antisipate the profits to be around $10,000 per month per investor. remember (the investors will own 10%) on top of their investment.
It's a good deal, and I dont know how to convence anyone that this is not a scam. Just call me or email me for further information. 970-380-3845 please, call for email address
My wife and I will be running it as general managers.
I need to get the investors on board before i can start the clean-up, and renavations. We have the contractors and suppliers standing by.
I also have an attorny on retainor to draw up a contract for all the investors. This is being done because i realise that this is a lot of money, and i dont' want anyone to lose out on this opportunity. Please remember that I only need 8 Investors, so move fast before someone else takes your seat.
THANK YOU for your time,
Walter Carl Hill SR.