All Forum Posts by: Account Closed

I really do think it's easy to operate. I run an RV park right now and I work about 3 hours per week (granted it took more time to set up, but now that it's set up, I only work about 3 hours per week)... that is why I would get the financials before I buy.

You can go to loopnet.com right now and find 1000s of hotels that have been operating for a profit for quite some time.... it's just a matter of qualifying for the loan and coming up with the down payment. But once I have one, then I will have 2, 3, 4, 5, 6..... 1000, 2000, 6000. I probably won't even rename them.

Not if I can't think of a better name than the Inn & Out. That's stupid.

Only thing I can think of is if the property is used as collateral on a loan for something.

*$6.5 billion in profit. 

And I know I'm the "oddball" troll here and I'm about to say something that will make you all think I'm absolutely nuts....

I don't hire attorneys at all. I refuse to waste money on them.

leg.state.fl.us

Section 83 - Landlord and Tenant

Section 509 - Lodging and Food Service Establishments

.... it's just as easy as reading it.

 Well the Hilton's don't run their own hotels. They manage to do okay. $10.5 billion in revenue in 2014, $6.5 billion in revenue. I don't think Paris is scrubbing the floors, either. I'll hire people at minimum wage or as close to it as I can. I will not have a maintenance person on staff, I will just hire when necessary. I don't have every single detail, but even if it that drops to a measly $900,000/year.... then so be it. (and that is on ONE hotel).

Insure in what way? Tenant injury liability by any chance?

Btw... I do currently run an RV park, so I have experience in some of these things. It is very similar. Collect rent. Fix things. It's seriously so easy, I don't know why you all are making it out to be some complicated task to run a hotel. I know 3 people that run a motel by themselves.

 Actually, I would start a side business. Exotc car rentals. Did you know you can get a brand new Aventador for $7,500/month (loan and insurance) and rent it out for $3000/day??? Companies that do this rent it out nearly every day. That is a hefty profit. But again, why am I sharing my business ideas for free.

That "Lambo" comment is called sarcasm. (doesn't come across well on text, I'll admit)

 So inform us oh wise one.

 Yea I know. And they require mortgage insurance as well. Sucks.

Once I sold a property without using a realtor or a title company, though. But it was just a vacant piece of land.

I know....

The "Shower Cam Hotel"....

Hahahaha.

 Yea well of course the first time is the learning experience. I didn't claim to know EVERYTHING.... but I bet I will streamline the process and do it a hell of a lot more efficiently the second time around... and just imagine the THIRD time!!! And by the 7th time, I should have enough to put down on a hotel and my "building" days should be about over. Unless I can run it as a side business if it is still profitable to hire other people to do the labor.

Okay, I'll let you know how much profit I make from this house.

I'll even keep you up to date step-by-step. Tomorrow, I go back to the architect with the final revisions, which will include bitching at them to include the electrical diagram they promised me in the quote, which they might want to include if they want the rest of their money. Then, send it to my contractors. I already basically know who I am going to hire, but I will send to a few just to be sure.

I would say "I'll post pictures," but by the time I am actually building the thing.... I would probably be too tired to care.