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All Forum Posts by: Cliff Benner

Cliff Benner has started 13 posts and replied 277 times.

Post: Flex Space Untapped / Hamzainvests.com

Cliff Benner
Posted
  • Accountant
  • Denver, CO
  • Posts 279
  • Votes 139
Quote from @Ronald Rohde:
Quote from @Cliff Benner:

Ive been looking into this a bit, more for my candle business to move to, but then to own in the future, because I meet a lot of fellow vendors at markets that need these type of spots to grow. 

Check out Tyler Cauble on YouTube, he has a lot of great videos on this and great insight into Flex Space.

I think he offers a cheaper course than that too. 


Tyler is awesome, but I'll say that his CRE course is a bit broader. covering more asset types and less specific into Flex development like Hamza


 ahh that is good to know. Thank you!

Post: Wedding Venue Questions

Cliff Benner
Posted
  • Accountant
  • Denver, CO
  • Posts 279
  • Votes 139
Quote from @Estrella Carolina Mckinney:

@Alex Yeater not sure if you got any follow ups on this, its been a while. not sure how far you are on your jorney. I ended up building one form zero and built 8 homes and the idea was to make them into a unitque venue. We are renting them on Airbnb and on our site as wedding but yes Airbnb does not have that option yet. They only cover your events if you have 16 guests or fewer. If you have more, they will not insure you. If you are still looking for options, let me know i'm in Canyon Lake Texas that's where my venue/airbnbs are.  


 How was that process starting for zero? What kind of zoning did you have to look for and what kind of financing did you use for this?

I would like to do something similar and was wondering on those two questions. 

Post: Boutique Hotel Investing - Financing

Cliff Benner
Posted
  • Accountant
  • Denver, CO
  • Posts 279
  • Votes 139
Quote from @Gordon Middleton:

Hey @Cliff Benner, to be honest, I stumbled onto it on Zillow when doing some dream hunting. I like to set up filters like "waterfront, mountain views, 20+ acres" and then coast my way around the country haha. Anyway, I stumbled onto the listing and couldn't even tell what it was really. The listing was really poorly made, but I was able to tell it needed a look. Called the agent that day and drove 4 hours that week. Not sure if there's a lesson to be had there, but that's how I found it.

I'll say though that once you know what you're looking for and create an industry specific network, you start to find them with some frequency. I also highly recommend a boutique hotel mastermind. The one I'm with has been extremely helpful.


 How did you find that network? I have a feeling i can start something with some people we know and I always network when I can, so that could add more likeminded people. 

Thanks!

Post: Boutique Hotel Opportunity

Cliff Benner
Posted
  • Accountant
  • Denver, CO
  • Posts 279
  • Votes 139

I like the other recommendations, give them a seller financing offer that is their asking and a good interest rate with terms that make sense for you, and offer what the bank will let you offer. This might show them that they can't have their cake and eat it too. 

Seller financing allows both sides to negotiate whatever deal that works best for both parties. 

Post: Flex Space Untapped / Hamzainvests.com

Cliff Benner
Posted
  • Accountant
  • Denver, CO
  • Posts 279
  • Votes 139

Ive been looking into this a bit, more for my candle business to move to, but then to own in the future, because I meet a lot of fellow vendors at markets that need these type of spots to grow. 

Check out Tyler Cauble on YouTube, he has a lot of great videos on this and great insight into Flex Space.

I think he offers a cheaper course than that too. 

Post: Business Purchase/Acquisition Analytics Review Services

Cliff Benner
Posted
  • Accountant
  • Denver, CO
  • Posts 279
  • Votes 139

Hello!

After purchasing our own business and helping others, we have decided to add Acquisition Analytics Services to our Accounting Services.

For those following Codie Sanchez, or have though about buying a business, we work with you to Identify the current and Past Financial Status of a business in operations that you are looking to purchase and relay the information needed to make a financial decision, as well as help create a projection of future cash flows with the affects of a loan payment. 

This service is aimed at Small Business Acquisitions with Revenues under $5 million and Mom and Pop style shops, so you can make a more informed decision. 


Please reach out with any questions, the link below takes you to our website with more information on Services we provide and how to set up a call.

https://www.bennerstride.com/services-3

Thank you!
Cliff

Post: BP podcast guest ??????

Cliff Benner
Posted
  • Accountant
  • Denver, CO
  • Posts 279
  • Votes 139

I was on #610, I had a question and submitted it through BP's IG or a system they used from their IG bio. I did it to get an answer, I didn't think I was actually going to be invited onto the podcast though. 

I would go on more podcasts but right now I can't take the time to do it with all the irons I have in the fire, but it is something I hope to add to what I do for the hope that I can help others learn that they can get out of their financial positions and life can be better. 

Post: Seeking Real Estate Bookkeeper

Cliff Benner
Posted
  • Accountant
  • Denver, CO
  • Posts 279
  • Votes 139

Quote from @Michael Thyssen:

 I just sent you a Connection Message, in case you dont get it, here is the link to my calendar, 

https://www.bennerstride.com/booking-calendar/bookkeeping-onboarding-1?referral=service_list_widget.


I would love to discuss how we can help you out with your Books.

Thanks!

Post: Boutique Hotel Investing - Financing

Cliff Benner
Posted
  • Accountant
  • Denver, CO
  • Posts 279
  • Votes 139
Quote from @Gordon Middleton:
Quote from @Earl Gaines:
Quote from @Gordon Middleton:

Hi Andria, 

I'm underwriting a boutique hotel deal in the Berkshires NY right now. I'm making a healthy downpayment cash by doing a cash out refinance on three of my established properties that I know can cover the debt service handily. Then the seller is holding a note for 5 years. I plan to refinance in two to three year once rates come down a bit.


That said, I need to be very confident in my numbers on the hotel, since I'm putting risk on my other properties and essentially wiping out their cash flow.


Happy to connect. I'm also having issue with no onsite manager, but in regards to insurance.


 Gordon, did you ever go forward with the refinance to move on the boutique hotel? Would love to connect on your underwriting if you were able to make it work!


 Hey Earl! Sorry for just getting back you. I've been so busy these past 6 months that I haven't had time to look back at the site. We did in fact acquire the hotel and are operating it as we speak. We did not do it quite as planned though. Instead of refinancing our portfolio, decided to sell our holdings that were out of state to capitalize on the stellar appreciation. We managed over half of the purchase price in cash and then the remainder was held as a 3 year seller's note. We also got over 100K in credits for repairs.

It was a killer deal. Happy to connect!


How did you find this deal? Was it on the MLS or a different listing site?

Post: Can an Ohio Lender Beat a 6.75% on an Invetment Property?

Cliff Benner
Posted
  • Accountant
  • Denver, CO
  • Posts 279
  • Votes 139

Hey AJ,

I used @Nick Belsky when I did a refinance in Dayton about 3 years ago, he was able to find me a pretty good loan for my circumstance.