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13 August 2024 | 14 replies
I think the best you can probably do here is sue them in small claims court to keep your costs at a minimum.
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14 August 2024 | 6 replies
And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.
15 August 2024 | 5 replies
People smarter and more sophisticated than me in business law have advised that there are 1000 ways to pierce the shield of an LLC.
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14 August 2024 | 11 replies
It came as no surprise when I looked Gatlinburg Falls up on the Better Business Bureau site and found this. 109 complaints posted in the last 36 months!
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14 August 2024 | 6 replies
The brokers will have the best pulse on the market I never found a Realtor that had much a clue as to Rehab costs, sorry.
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12 August 2024 | 30 replies
Or use that money to start a business.
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15 August 2024 | 4 replies
I work a full time 9-5 and have a side business that I do on the weekends.
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15 August 2024 | 9 replies
Figure out your costs and buy homes where you are stationed that will be good rentals after you leave to go to your new posting.
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14 August 2024 | 33 replies
If I ever get a bad review on our business profile, I need to consult with you to know how to answer. :-)
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15 August 2024 | 0 replies
I’m on the board of a small camp in Crofton, NE (near Yankton SD) (~120 beds, 80k budget) and we have had insurance policy adjustments in policy and costs for last 4-5 yrs.