Conversion of 1870's Hotel

[Brandon Sturgill]

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $90,000
Cash invested: $350,000

We just completed the acquisition of our next project; it's an 1870's built hotel that we are converting to mixed use. We'll operate a bed & breakfast with 3-4 high-end guest suites, install a dedicated 2BR apartment to stabilize cash flow, and open a gallery and event space tied to the local artist community. That's really just the beginning...

How did you finance this deal?

We structured a purchase money mortgage (Seller-carried loan)