All Forum Posts by: Matt Lyons

Great thought. I will see if that is allowed and how well it can change from one to the other 

@Joel Owens that was great info and feedback. Thank you

@Lance Alotti thank you for the opinion. Do you or have you owned any and if so any advice or pitfalls I should be aware of

@Greg Dickerson thanks for the feedback.... occupancy and daily rates are low compared to others in the area. That (along with owner dying and nephew not wanting it) has led to a very low price, I believe.

Can you share any names of companies that can manage it. It is a flag hotel.

Also do you know if any multiples to help evaluate it? I was led to believe that it should trade somewhere around 3-4 times gross sales

Recently found a great place on line. When I called the “owner” I learned it was just sold that day... then I learned it was actually with a wholesaler named New Western. Then I called on another and same exact situation and company... and finally now just happened a third time

I did meet with one rep from this company and he was about 22 and showed up in his really nice Lexus. He had no info on the home at all and was asking $95k while Zillow still had it listed st $65k

I have searched on line and found nothing good about this company... has anyone dealt with them and have any feedback good or bad? I am trying to decide if I want to give them another shot or not

I own a few rental properties and have owned a few businesses in the past... I am currently looking seriously at an undervalued hotel... anyone have an opinion good or bad about hotel investing

@Jordan Smith thank you!

My opinion is YES...I would.  And here is why:  1. You don't know what the future holds and cities do different things, so Cedar Point (or anywhere) can become something different in the next 5 or 10 years, you cant assume it will always be what it is now.  2. You get the tax advantages of owning Real Estate regardless of appreciation and cashflow  3. You would be paying down principle every month so it is like a savings account and it forces you to save money you would otherwise spend

I am very close to closing on an underperforming hotel located about 8 hours from my home. Can anyone offer me any advice on the following:

How best to evaluate a fair price?

How difficult to own from a distance?

Any advice at all?

Thanks a bunch!

I own a few places now but want to get more into BRRRR investing. The only piece to the puzzle I could use some help with would be figuring out the ARV of any property I consider. I am looking for a quick way to get this, is there an App, website or service that can provide this...not sure I trust Zillow Estimates...any help would be appreciated!