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Updated almost 6 years ago on . Most recent reply
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Seeking advice on hotel comps.
Hey BiggerPockets team!
My husband and I have discovered an old abandoned hotel that we are interested in. I have contacted the owner and she might be interested in selling, if the our offer is good.
Since this is not a residential property and every realtor I have called to assist me, has given me the run around or just not wanted to help, I am reaching out to you. :)
I am in the process of gathering the most pertinent information about all other hotels in the area, or within a close range.- how many rooms, the sq footage, the last date sold and what it sold for.. etc.
Is there another way to do this or am I going about it correctly? I want to be able to present the owner with the most reasonable offer I can, seeing as how it is most likely going to need a full rehab.. And any help would be appreciated.
Thanks y'all ! :)