All Forum Posts by: Colin Stalley

Hello I am looking to expand my portfolio to include hotels.  I know of one coming available in my area for around 2 million. The hotel has historically done well and I think we can improve just by better management as my wife has managed a larger more aggressive hotel.  I however don’t have that kind of capital. I’m am looking for any advice to raise the capital. I Have some connections that might work. But looking for any advice on loan, investors, do diligence, and any other help.

Thank you all 

Colin Stalley 

Hello,

This spring one of my townhouses got water damage on the east wall and floor. Plummer’s searched for a day and a half finding the leak coming from the adjoining property that I don’t own. $11,000.00 in damages. I filed a claim with State Farm whom had all my property at the time. they said it was a slow leak and would not cover it. I filled with the state insurance board who said I would probably win in court but nothing they could do. The neighbor is an elderly lady who might be slipping gears or just is not going to tell us who her insurance is. I talked with a lawyer he told me no judge would side with me against an elderly lady. I fine with not trying to get her to pay. So my questions become.

1) how do I find who has her insurance?

2) what other options do I have?

thank you for your help

I am trying to get in touch with some local owners as well as those out side the area.  Small town politics can be a pain. So it would be nice to get fresh views from out side the immediate ares.  

There is a foreclosed Days Inn in Riverton Wy That should be coming on the market in the next couple of months.  It was Remodeled a couple of years ago they didn't put sprinklers in to bring it up to code.  They tried to sue the city and lost.  It will need a sprinkler system installed to be up to code.  I do not have the knowledge to tackle this task but would love the opportunity to be part of this deal.  I would like to learn about hotel management & operations, as well as putting the deal together.  I also know of a possibility of a second hotel that might be able to be purchased.

Bill S. I would like to learn about running a hotel remotely from the hiring to the regulation to day to day and cost associated.  Mostly I'm not in a position where I would want to take on something like this by myself.  I would rather have a small interest with chance to learn from an expert.

Justin Bauer The Hotel was remodeled a about three years ago.  At the start of the remodel the owner was told he didn't have to have sprinklers to meet code.  The city then came back and told him that he did need sprinklers while the remodel was in progress.  He didn't do it and tried to sue the city and lost.  The hotel was a Days Inn @ 909 W main Riverton Wy .  Not sure on how many rooms but somewhere between 40 and 60.

Their Is a Foreclosed Newly remodeled hotel in Riverton Wy was days in.  It was foreclosed over not having a sprinkler system installed and will need to be installed to get operational.  I am looking for interested parties with hotel experience or someone who could at least help me learn.  It is currently not on the market but should be coming soon. I have no hotel experience but would like to be a part if possible for the knowledge if nothing else. I own rentals and I am a new real estate agent in Riverton

My wife and I had a real estate investors meet up in Riverton a month or two ago we advertised on bp and facebook.  we had a good turn out about 20 people.  we didn't have a speaker just a gathering to  discuss real estate.  It was a good networking experience.  When you have one if we are available we would go to Cody to attend. we are exited for more meet ups in wy.

Hello bp.  Im am looking for help on how to make sure a title is free and clear when buying foreclosures in Wyoming.  Any info in the foreclosure market would be helpful. Thank you all.