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All Forum Posts by: Vernell Callahan

Vernell Callahan has started 3 posts and replied 9 times.

Post: Need ideas for 25 room motel

Vernell CallahanPosted
  • Contractor
  • Birmingham, AL
  • Posts 9
  • Votes 0

The nonprofit was gong to do a re-entry and drug rehab program. I am thinking about studio and furnish utilities.  

Post: Need ideas for 25 room motel

Vernell CallahanPosted
  • Contractor
  • Birmingham, AL
  • Posts 9
  • Votes 0

If I rent them out as studio apartments I would have to furnish appliances, which would be an additional cost.

Post: Need ideas for 25 room motel

Vernell CallahanPosted
  • Contractor
  • Birmingham, AL
  • Posts 9
  • Votes 0

Yes, I did get a great deal and I am speaking with an attorney regarding the contract. Just not sure where to go from here. 

Post: Need ideas for 25 room motel

Vernell CallahanPosted
  • Contractor
  • Birmingham, AL
  • Posts 9
  • Votes 0

Would need to complete minor repairs and furnish the 25 rooms to operate

Post: Need ideas for 25 room motel

Vernell CallahanPosted
  • Contractor
  • Birmingham, AL
  • Posts 9
  • Votes 0

Walker County, Alabama and 20 miles from Jefferson County, AL  

Post: Need ideas for 25 room motel

Vernell CallahanPosted
  • Contractor
  • Birmingham, AL
  • Posts 9
  • Votes 0
Purchased a 25 room motel as investment property. Signed a contract with a non profit and they decided they would not move in. Need ideas as to what to do with investment. Thanks

Post: Analyzing a "Condotel" Deal

Vernell CallahanPosted
  • Contractor
  • Birmingham, AL
  • Posts 9
  • Votes 0
Wish I had some advice for you. I purchased a 25 unit motel and entered a contract with a nonprofit and they defaulted and did not occupy. Now I have to figure out what to do with it.

Post: Looking for financing options

Vernell CallahanPosted
  • Contractor
  • Birmingham, AL
  • Posts 9
  • Votes 0
I am looking to purchase a 25 unit motel and convert to single room occupancy. I am having trouble finding a lender to finance this type deal. Any advice for financing options? Just starting in investment properties.

Post: New Member from Alabama

Vernell CallahanPosted
  • Contractor
  • Birmingham, AL
  • Posts 9
  • Votes 0

Hi! I am so glad I found this website! I'm just getting started with the education phase of real estate investing and Bigger Pockets is an excellent resource.