Inn Brokerage Blog
Using your 401K toward a hospitality purchase?
Are you aware that under the right circumstances you can rollover your 401K into purchasing a new business, such as a bed and breakfast? Check out R.O.B.S. (rollovers as business startups) and Self Directed IRA’s via Guidant Financial. This could make the difference in finding just the right inn and using your cash wisely! Be
Buyers, do you Google research the inns you’re looking at?
One of the best ways a buyer can learn about the property they’re looking at is to Google the name of the inn and even the name of the innkeeper(s). Once you’ve focused on a property or two, set up Google Alerts for the inn’s name and innkeeper(s) names. Of course you should read reviews
DCR – Three of the most important letters regarding inn financing
DCR – Debt Coverage Ratio These three letters are one of the most important elements to understand when looking to finance a business (and let’s not forget that an inn IS a business). Simply, can the net operating income cover your debt as new owners? Because although many buyers ask if the sellers have a
Circumventing the Listing Agent…why??
It’s not unusual for a prospective inn buyer (or residential for that matter) to attempt to contact the seller of a listed property directly. Is it because the buyer thinks they’ll get a better deal if they go directly to the agent? It’s happened a couple times with prospective inn buyers who have found my
New Listing! Acadia Cottages in Southwest Harbor, Maine
Cottage Deck Looking for a destination location? Looking for spacious and private owner’s quarters? Looking for a seasonal business? Looking for a turnkey business? Looking for a strong business? Love Acadia National Park? I thought so… Cottage interior Cottage interior Cottage interior Acadia Cottages has all of this as well as very little deferred maintenance.
As I say farewell to active innkeeping…what’s around the corner?
My two year period of immersing myself in the daily operations of being an innkeeper at Pomegranate Inn in Portland, Maine will wrap up April 1st. We have decided not to renew our lease in order to focus 100% my time on hospitality brokerage. I’ll continue to do my cooking classes at Stonewall Kitchen and
Sea Smoke – a View from The Victorian By the Sea Bed and Breakfast
Yes, this could be your view! My client just sent me this beautiful capture of the sea smoke in the Penobscot Bay, taken from the wrap around porch at the Victorian By the Sea…it’s one of the great things we see in the winter. And if you don’t know what sea smoke is, here’s an
Camden, Maine…where the mountains meet the sea…
I just read a really great piece on what Camden has to offer this morning from the Bangor Metro. A bit about the history, nature, the town, local commerce and what to do when you do visit. Looking to leave your corporate jobs and get into the innkeeping lifestyle? Check out my listings in the area
A look at 2012 in the hospitality brokerage industry
As I look forward to 2013, I can’t help but to take look back at what took place in 2012, with my buyers, sellers and our industry in general. Between May to December, I closed on 1802 House Inn in Kennebunkport (represented the seller), Towne Motel in Camden (represented the buyer) and Noble House Inn
UNDER CONTRACT! Noble House Inn, Bridgton
The Noble House is one of those bed and breakfasts that’s picturesque, set high up on a hill with beautiful presence upon the approach. Step inside and the feeling is one of comfort, casual elegance and home. I always loved showing this property. And very soon we will congratulate a new innkeeper as this inn will
Are buyers ready to make the hospitality leap?
I’ve been working with several clients for a while now who really want to get into this business. So what’s stopping them? It seems that fewer prospects are putting their homes on the market before making offers on a lodging/hospitality property. This is, after all, a discretionary purchase. They don’t have to sell their house,
USA Today reports: Tourist towns transformed as retirement destinations
Retire to Maine, not the Southwest or Florida? Absolutely! USA Today takes a look at Camden, Maine as a wonderful retirement destination. There are so many reasons to love Maine: For the years that I’ve been in coastal Maine (since 2004), I’ve always thought our weather was milder than most people assumed. Boston seems to
New Listing! The Maples Inn, Bar Harbor
The Maples Inn, Roberts Avenue, Bar Harbor Maine This lovely 6 room bed and breakfast sits on a quiet residential tree lined side street between Mount Desert Street and Cottage Streets, in a prime location in Bar Harbor. The inn does a strong seasonal business from about 5 1/2 months late May to mid-October. All
New Listing! Victorian By The Sea, Lincolnville, Maine
Beautiful location, beautiful grounds, beautiful view, beautiful inn, beautiful owner’s quarters. This inn offers it all. View more photos and the listing on my website. Victorian By The Sea in Linconville, Maine, offered at $1,095,000
Looking for a postcard, waterfront, Maine bed and breakfast?
Harpswell Inn for sale offered at $1,900,000, 11 guest rooms, commercial kitchen, 50 seat function room (with restaurant license for 50) and outdoor functions can accommodate 120-150. A sloping lawn leads down to the water where guests can launch their canoes and kayaks. A beautiful property built in 1761 rich in history!