All Forum Posts by: Amy Ranae

Investment Info:

Other commercial investment investment in Taylors Falls.

Purchase price: $11,000,000
Cash invested: $4,000,000

Taylors Falls is a historic river town nestled on the banks of the St. Croix River Valley. The area draws hundreds of thousands of outdoor enthusiasts throughout the year for hiking, kayaking, weddings, wineries and more. We are building a 36 unit boutique hotel. Cedar + Stone Nordic Spa will offer sauna and spa experiences and guest can refuel in our taproom with local brews and small bites.

Accredited and interested? More info here:
https://brickandbanister.com/hotel/

What made you interested in investing in this type of deal?

I love airbnb and new construction. This project is at an exciting scale that incorporates team building, project management, syndication, and community development. It has been SO FUN!

How did you find this deal and how did you negotiate it?

I've been working with the city and county for a year or so. It was unlisted commercial property owned by the city

How did you finance this deal?

Syndication and commercial construction loan.

How did you add value to the deal?

I'm bringing the team: architects, designers, planners, builders, investors, lenders, etc.

What was the outcome?

Yet to be seen, but it has been a FUN journey thus far!

Hi! Is anyone in here in the hotel or motel space and want to help me figure out how much I can pay for a building?

Hi!

I have to come to an agreement with a seller for 25 acres of land. I need a loan to purchase this before I can get my plans in order and subs lined up to build. I am approved for the conventional loan on the back end.

I’m looking for a 20-25% down land loan and then a 20-25% down construction loan to follow in a few months. We would self build as we are licensed general and electrical contractors.

Do you know any lenders who can help with this?

Thank you!

@Abel

@Abel Curiel I'm aware of all of these methods and have tried most of them with varying degrees of success. I understand you need to stick with a plan so I'm curious what kind of success you've had with any of these prospecting methods? 

Hey BP friends!

If you wanted to generate 144 warm leads in 12 months that you or your salespeople would reasonably close, what method/s would you use?

What criteria do you use for analyzing non-owner occupied short term rental deals?

Formulas/spreadsheets/math tips are a plus.

I have rental history for 3 years on 2 properties I’m considering but it’s only topline and these properties are second homes so I’m not sure how often the owners are using them personally.

I know there is room for aesthetic improvement, but wondering how much I can push the occupancy.

What would you look at and consider?

Thanks for your help BP friends!

@David Barnett Yes, mostly millennials, couples, some same sex but not all. Very progressive and civil rights minded, working professionals, usually two incomes, some kids, some without. Frankly I would consider them to be 'normal' buyers for their age bracket. 

@Todd Goedeke I have not, I'm not sure I'm following your meaning. 

@Craig Hansen Same! Apparently Duluth does not agree! 

Ok just got off the phone with Duluth Twp. She said that unless you meet their VERY strict criteria, it's a hard no on a conditional use permit. Even if you get one, you have to renew every year so it's possible it would all go away and you'd be stuck with a house you can't short term rent.