We’ve had numerous clients utilize their 401k funds to purchase a lodging property, and one of the companies that facilitates this transaction (in accordance with IRS) is Guidant Financial. This can make a substantial difference in what buyers can afford to purchase. Guidant put out this great piece on busting the myths behind ROBS. Using […]
buying a bed and breakfast
We hear that question frequently. In the world of residential real estate, it’s not only common, it’s often relevant to the deal. But not in the lodging industry. Why? It’s simple. Because buying a lodging business (or any type, really) is a discretionary purchase. Most people don’t have to buy a lodging property. Many people
Just the other day I brought a buyer and seller together with a signed purchase and sale agreement for a lovely inn in Bar Harbor. After I sent over a copy of the ratified contract to the buyer, the image below appeared in the body of their response email and it just made me smile.
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
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,
One of my clients recently said “You are fabulous at what you do. Thank you for giving us such great information. No one had explained this to us before so clearly”. One aspect of my job that I really enjoy is educating buyers and sellers. One of the most important things I can do is educate them on