OfflineSo i have a buyer that wants a distressed hotel to add value to and i found one in the area, bank was selling for $9.4 but drastically reduced it 2,050,000 by 7,000,000...how would i verify their info with no comps? Seem pretty motivated, i am interested in taking on this deal as i can even assign it on a very large scale if documentation is correct.
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The commercial REALTOR that is representing the hotel will be able to provide you with a prospectus or a financial statement. This will allow you & your investor to analyze the financing.
Assigning a multi-million dollar deal is slightly complicated, simply because the REALTOR representing the hotel will need to see your financial statements so they know you have the funds to buy the property. Again, it is not impossible but the simpler route would be to receive a “finder’s fee” from your investor friend.
You would sign a simple agreement that would protect you when you give your investor any information on the hotels that you find!!!
Great job!!!
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