Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Commercial Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 12 months ago, 12/14/2023

User Stats

56
Posts
8
Votes
Menachem Krasnjanski
Pro Member
  • Rental Property Investor
  • Spring Valley, NY (spring valley ny)
8
Votes |
56
Posts

Buying a motel at a sheriff's auction

Menachem Krasnjanski
Pro Member
  • Rental Property Investor
  • Spring Valley, NY (spring valley ny)
Posted

I'm trying to figure out if it makes sense to buy the following property. It's a 2 star motel in a midsize city in the Midwest with more than 100 rooms on over 2 acres of land. It's being sold at a sheriff's auction and the current highest bid is about 3k per room. The owner also owes about 2k per room in back taxes. For an all in of about 5-6k per room I can acquire an operating motel. The downsides are It's a very mediocre motel and leaves alot of room for improvement, it's next to 2 other 2 star motels that are part of national flags that have much better reputations, and most importantly it's a sheriff's auction so it's very hard to get any info on it (P&L, past performance, any other financials). Is it worth going into such a deal due to the low cost of acquisition and upside.

  • Menachem Krasnjanski
  • Loading replies...