All Forum Posts by: John Riordan

This is a post to those incensed over others declaring their victories in this and other communities. 

The Bigger Pockets family was where I began my serious investor education and outreach; I continue to do so and download several podcasts per week. I am also a part of the nefarious gang of cowboys, the Subto Community, with whom I hold daily communique. I've seen a rash of slander thrown back and forth between the groups and it must stop immediately for the betterment of both communities. I see fallacies and misconceptions used between the two groups at best, lies at worst. 

Bigger Pockets and Subto are different organizations with different aims. To those who poo-poo the creative finance folks as faddish and flash-in-the-pan, are sorely mistaken. The realm of Subto is not one of mere Real Estate, but it has grown and encompasses whole-of-life concepts to include community inclusiveness, fitness and well-being, social intercourse and branding, vehicle and personal property arbitrage, mindset training, and the list continues to grow every week. My best friends are in the Community and my greatest mentors are too (the availability of 30+ live zooms every week will do that). It has changed my perception of what investing is, it has grown and professionalized my business, and it has made me a better man for it.

Bigger Pockets is a fantastic world which is the gold -standard for a conglomerated investor-centric platform, and I challenge it to meet Subto's interpersonal and mentor-protégé atmosphere. People are dating and marrying each other in Subto for crying out loud. But I also challenge Subto to remain the tight-knit group which can swarm "rivals" like a pack of angry hornets, as it continues to professionalize, expand its scope, and engrain itself into the amazing investor communities which it finds itself working with in every market. 

Our communities deserve to ignore the riff-raff who know only their methods and strive to drown out the calm voices in the room calling for cooperation; we MUST strive to approach one another with respect and an open-mind into the evolving nature of our industry. 

Collaboration over Competition. 

respectfully, 
John Riordan

Subto Community Connector | Bigger Pockets Pro 

I need your help to take down a Colorado Ski Resort Hotel

It's the only hotel in the valley due to land restrictions (others over 15 miles away), Ski Resort just bought another mountain for expansion, land open for value-add cabins.

• Primary Lien position $4m for acquisition, 30yr @ 5% interest; Balloon at 10yrs (terms negotiable)
• Secondary lien position $2-4m for renovation after closing, 30yr @ 5% interest; Balloon at 10yrs (terms negotiable)
• Closing January 2023

Scope of Work: Full renovation of rooms, restaurant, wedding venue, and common spaces through Evolution Hospitality (affiliate of Aimbridge Hospitality); the place needs new management and a renovation for optimized returns, while the non-optimized gross monthly income is estimated at $157,000 (55% occupancy) and optimized gross monthly income estimation is upwards of $215,000/mo (75% occupancy).

I have 5 trailing years of P&L, structural and CAPEX inspection reports, and I am in direct negotiations with the motivated sellers.

The hotel has 90-keys consisting of single rooms and suites, a banquet hall, restaurant, coffee shop space, two indoor basketball courts, two retail spaces, an indoor pool, outdoor hot tubs, an indoor gym, a heart-shaped lake fed by a tributary of the Arkansas River, and a bridge above a year-round waterfall leading to the 1200 mile-long Colorado Trail. The ski resort is approximately 3.5 miles away which the hotel uses a new ADA accessible bus to bring skiers and summer adventure sports seekers to. This hotel is the only hospitality business directly serving the famous Colorado Ski Resort (unaffiliated). 

Terms are negotiable and equity Partnership is on the table.