Re: Funding for Motel - Posted by Tim Fierro (Tacoma, WA)
Posted by Tim Fierro (Tacoma, WA) on July 11, 2002 at 16:43:39:
One thing stands clearly out to me, you are asking if net profit is ok with average rent,the numbers were per the seller, and you wanted to know percentage of revenue and expenses. If you are going into the motel business, I would assume you would either have a background in this kind of business, or that you have evaluated all the numbers carefully that you know you can make it work; not asking those who visit a newsgroup if this particular motel is profitable as you should be gathering all the information before you start plunking down an offer to purchase a ‘business’.
Shambhu, I am not saying it is a good deal or bad deal, but wanted to comment on that you should be fully informed with verification of the numbers before you proeed into new territory that you have to ask questions like those you posed.