All Forum Posts by: Account Closed

@Account Closed with all due respect any commercial lender that knows what they are doing wouldn't lend to you with no experience. As much as there is a real estate component to hotels its is an operating business first and foremost. 

I wish you the best but your plan lacks merit or forethought. @Jay Hinrichs you are obviously a newbie and there's nothing you can teach this individual :)

MicGael

real movers and shakers in RE  talk airplanes not car's  anyone can buy car's... you will have made it when you have your airplane.. even you could probably go in and lease a lambo right now.  cars are nothing airplanes are what put you in the big leagues.

@Account Closed My bad... I swore you started this discussion saying "This is fast forward five years." I must of misread your first sentence in your original post. Congrats on getting that 3,000,000 dollar loan yesterday! Please tell me how the underwriting went, and I will love to see your hotels. I'm a couple of hours away and will love to buy you some Starbucks to hear how you CLOSED a 3,000,009 loan. Private message me and I'll be there whenever. I thought when I closed a 375,000 private loan in Ft Lauderdale was a success with no experience but that's a fraction of your accomplishments!

@Account Closed  you crack  me up... I am a NMLS mortgage banker which means I lend my own money.. I fund folks in 12 states and have been doing this since the mid 80's probably before you were born... funded well over 1/4 billion in my day.... 

I make guys like you be able to cash in on your big dreams.. but I don't lend to anyone with no experience like you.  neither do many other lenders if they actually know what they are doing... when your starting out yoiu need to raise friends and family capital get some experience then you can spout off on all your billion dollar ideas... keep at it

11% debt on a hotel will kill you   

@Account Closed  OH what it is to be a dreamer  .... In all regards... how easy it is to get funding how easy it is to run a hotel were you have no clue as to what your doing...

your statements are the height of naiveté   but keep dreaming and one day you will be as rich as Trump.  

@Account Closed The idea seems good but in my experience 'fast forward 5 years' is a very very long time, and as anyone knows (including my three year old students) things can change dramatically between now and then. @Jay Hinrichs is very correct with the lending aspect, and there would be NO WAY to tell what the lending trend will be within 5 years.

I am assuming you are young, as well as I am, and just remind you that things change. Look up Pete Frates. I am sure his 5 year goal has changed.... However, keep dreaming working harder then the next person and good luck .

@Account Closed  OH what it is to be a dreamer  .... In all regards... how easy it is to get funding how easy it is to run a hotel were you have no clue as to what your doing...

your statements are the height of naiveté   but keep dreaming and one day you will be as rich as Trump.