Updated almost 7 years ago on . Most recent reply
Coeur d'Alene investor venturing into first commercial deal
Venturing into my first commercial deal here in CDA, a motel in nice location. Purchase around 500k, has 14 units, 5000 sqft, 1/4 acre lot, nice shape but could be 800k+ motel with 100k upgrades. Has excellent cash flow potential - easy 2% rule but much bigger in peak season. Bank loans unlikely however, so seeking advice on how to get this deal done. Thank you
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@Brian Oberholzer First option I would explore is seller financing, then checking with local credit unions. Best of luck!