I'm a wholesaler who needs some expertise on structering an offer for a local hotel deal!

[Reginald S.]

Hello all! I'm a wholesaler who lives in South Carolina. I got a call the other day from a potential seller that owns a nearby 75 suite hotel that he would like to sell asap. In addition to the 75 suites, the hotel also has a restaurant, ballroom, private party room, a large extended stay suite, and an outdoor swimming pool. It is located on a major hwy next to a I-95 exit. The property has been vacant now for about four years and the county assessor has valued it at $300,000 as it has been trashed by squatters and seems to be at the beginning stages of succumbing to neglect. The seller who seems to be very motivated is asking for $100,000 cash but will do an owner-finance for a bit more. So here in lies my issue, I don't have any experience what soever with 'commercial' property and am looking for an experience investor (particularly someone who has experience with buying hotels) that can partner with me on this deal or at least guide me through the process. If you believe that you can help me with this deal, please PM me asap. Thanks... PS. Any tips or advise posted here on BP will be greatly appreciated also!