Posted by Jeff Green on April 28, 2008 at 06:03:58:
Are You Interested In A Apartment Building In West Palm Beach, Fl. 10% Cap Rate / Purchase Price $830,000 / NOI $83,500 / 100 % Occupied. Great Deal Call Me (561) 572 - 5938. We Do Property Management As Well
N.Fla Motel - comments - Posted by Matthew
Posted by Matthew on April 24, 2008 at 08:50:46:
I am in the process of reviewing an auction for a 130 room motel in Jax, the opening bid is $885k,'07 rev was close to $1M my initial reaction is more around 600k. What should be max on the deal? based on land -building values or future development? I have done many resi and mixed use but not hospitality,have 15 year restaurant experience. I know I have to wait for bidding but what should I look for in the numbers that could be a turnaround for more cash flow… Marketing,advertising,rehab,banquet facilities for lesase? access?/ its near the stadium and jax landing,a popular rstaurant and night club area.
What can I expect to pay for private / hard money? what is min put down 30%-40%?