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Updated over 8 years ago,
Motel/ restaurant that has potential to be making money!!
Not really sure where to start with this but over the past 2 years or possibly more this motel has been vacant and untouched and I see that money can be made here.. It even has pool and an indoor Hot tub. Also has a like mini restaurant that could get turned in to cafe. It's right next to the main home of the bethel community. So thousands are coming here to live and go to Bethel school. And a lot of them are needing places to stay. I know someone who's renting out her 4 bedroom house who's payments are $1,200 a month and she's charging 8 of them $300 a room. Besides the free way (which it's the beginning of it so it's not like crazy traffic), its in an amazing location. My vision is that you could turn all of the rooms into live able spaces for students or turn half of it to business offices and the other half to the livable spaces. If there was a cafe or mini restaurant that's a money maker because everyone wouldn't have to go into town to eat. The thing I just not really getting is how to price it or finding someone who'd be interested in it? Because it could be good investment if it's bought at the right price and it does need a lot of work so how would I really figure out a rehab cost and an ARV? Not really sure what I would want to do with it. Maybe wholesale it? Any thoughts? Opinions? Advice?