All Forum Posts by: Elizarica L. Anderson

 You need to weigh up who you are approaching, the owner with a rescue or the lender with a purchase. All sorts of weird dynamics behind both sides and there is a lot more background required before advising in detail.

I lead real estate and business development for a CA based hotel management operator and have extensive experience of the process involved and the kind of personalities you will encounter as well.

Happy to discuss further at any time. I have a pretty substantial pipeline of similar assets which is a strong indication of things to come....

Remember, these people run a hotel for a living, and they couldn’t make money. So, not knowing how to run a hotel is probably not a competitive advantage. Unless your plan is to tear it down and build something else? Make sure the city/county will let it be anything besides a hotel. 

Ps. Do you have a pre qualification from a lender saying you can borrow at least as much as the foreclosure?

@Elizarica L. Anderson be straight say you saw they were in foreclosure and ask them if they have a plan to stop the foreclosure or are they just going to let it foreclose.

Listen to what they say, then pitch them your plan to stop the foreclosure and buy them out.

@Elizarica L. Anderson if local go in and ask for the manager, and say you are working on a project that would involve the owners of the hotel could they share contact info.

If not or that doesn't work look up the company find the registered agent make contact and start working from there. Chances are will be a lot of dead ends but soon enough something will catch traction.