All Forum Posts by: Alia Culcleasure-Phillips

Thanks for the reply and the welcome.

I am not sure that you are encouraging me to pursue this...or to stay 'on course' with my note business building. while i would be seeking an expert sponsor jv for this kind of property, it would only be if makes sense to go forward. i am a newbee at notes and require a lot of focus to get onboard, this potential deal would consume a great deal of 'mental real estate' which could retard a successful business development.

But on the other hand, i am enamored of the beautiful place and the tantalizing opportunity (beachfront CA property + Aging active boomers retirees)... wiser and more seasoned investors could help by weighing in on how they might make this kind of choice, the why and what. right now i am at paralysis of analysis and without my normal feelings of certainty.

BTW, although I haven't done the ADA analysis, the B&B catered to the over 60 crowd.

Hello all, my basic question is whether or not this is something i should pursue. It would require finding the right JV sponsor with a lot of experience as this is not my area of expertise, I can access adequate funding for such a project (between $5MM-???), the product does have a strong market, but this is still a unique placement, plus other issues:

While looking for NPNs in foreclosure, I came across a seaside property with its own private beach that was a former B&B. It has 2 acres and 18 variable sized suites each with its own fireplace and most with jacuzzi and/or sunken tubs. There are 2 kitchens and amenities galore. 

The property is available for >$1MM and getting variances for B&B to Independent Senior living would not take very long. Generally, such a project looks like it fits into the County/City General Plan.

Presently I am in the process of changing my business model towards Note Arbitrage and this could be highly lucrative but time consuming. Any ideas from the "been there, done that" crowd?

Thanks in advance for your time and consideration...

Alia