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Prequalify to Buy a Bed & Breakfast or Inn

The Prequalified Buyer™ evaluation and designation provide Aspiring Innkeepers a credible way to quantify how much purchasing power they really have as it relates to identifying hospitality properties that best fit their financial qualifications and professional/personal objectives. A Prequalified …

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Frequently Asked Questions

Use Retirement Assets for Inn Purchase

Few investors/entrepreneurs realize that they have the ability to self-direct their own retirement assets. Most believe the only two options are to borrow or withdraw from their account/s if they wish to invest in real estate or purchase/start up a new business. The downsides are… Borrowing from …

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What Clients Say

“Picture this, Karen and I are at a national innkeeping seminar and trade show within days of closing on the Inn of our dreams when we get the word the bank has dropped our financing. The worst part was having to tell my wife the news. Enter Rick Newman and Commercial Capital Network. Within 24 hours he had connected us with an amazing group of people that literally picked up the ball and scored. We closed within 45 days start to finish. Personal and attentive to every detail, this was an amazing experience and we would not have been able to complete this journey without Rick and his team. Thank you from the bottom of our hearts!! “

David & Karen Browning, Innkeepers
Eden Vale Inn
Placerville California

“As you read some of the other reviews, Rick is a master at helping people finance Inns and B&Bs. What not too many people say is that Rick takes each sale personally and you make a friend for life.  Rick helped me finance Oak Hill On Love Lane in Waynesville NC last year.  But the relationship did not stop after the closing.  Rick, treats each sale personally and goes out of his way to ensure that you become a successful inn owner.  Rick checks in to make sure that things are going well at the B&B/Inn.  As soon as Rick hears about industry changes that may affect his clients, he updates everyone never assuming that you know about it.  If he thinks that you are doing something that may affect your business negatively he reaches out to you. This can be an email, a phone call, etc.  He is also smart enough to know when he doesn’t know and points you to the right person who will help.”

Anna Kitzis, Innkeeper
Oak Hill on Love Lane
Cornerstone B&B, Philadelphia, PA

“For more than 25 years, my grandmother (Rick Newman’s Mother) owned the New Hope Lodge in New Hope, PA.  I spent much of my childhood after school with her at the inn watching her work never imagining that one day I would want to own an inn myself. I know my Grandmother would be so pleased to know I used my portion of the proceeds she left to her grandchildren to purchase an inn, and that her life’s work as an innkeeper made this all possible.”

“When my husband and I first considered owning a B&B, we weren’t entirely sure of the process and timeline. We thought it would take us years. Luckily, my uncle Rick was there to guide us, in fact, he recommended we consider the Cornerstone B&B adjacent to the University of Pennsylvania and Drexel University in Philadelphia. He had assisted the previous owners buy the inn eleven years prior, and when it went on the market in 2018, he told us it was a wonderful performing property, and a smart investment in an interesting and active location.”

“From start to finish, he was with us every step of the way. He brought together a team of talented B&B experts to work with us including industry vendors, a website designer, a videographer/photographer, and even our inn consultant Eliot Dalton of The B&B Team. With his guidance and user-friendly business plan templates, he gave us confidence and helped shape our purchase and financing of the inn.”

“We began the process in mid-February and settled on April 29th, 2019. Thanks to Uncle Rick, it only took about six weeks for everything to come together from start to finish, an extraordinary feat! We are now the proud owners of the Cornerstone B&B in Philadelphia! It was a family effort, and we honestly couldn’t have realized our dream without him. I know my grandmother would be so happy to know that her family worked together as a team to continue her legacy.”

Jill and Eric Pfaff-Moody, Innkeepers & Proprietors
Cornerstone Bed & Breakfast
Philadelphia, PA

“Rick was such a pleasure to work with. He was helpful in guiding us through the ups and downs of financing our inn. He was a huge part in making our dream come true and we cannot express how grateful we are to have connected with him. He is truly an expert in the field but the best part was that we made a lifelong friend in the process. Thank you, Rick, for everything!!!”

Steve and Karen Wilson, Innkeepers & Proprietors
The Lion and the Rose
Asheville, NC

“We spent the better part of 15 years dreaming of owning a Bed & Breakfast. We toured numerous Inns, attended The B&B Team’s Aspiring Innkeeper Seminar, and conversed with many Innkeepers to educate ourselves about the Innkeeping Business. We put in a great deal of effort to develop a knowledge of the business, however, the process seemed arduous and we felt completely overwhelmed with all that needed to be accomplished if we were to finally buy the inn we have dreamed about for so long. We were honestly beginning to wonder if our aspirations of innkeeping were realistic given what seemed to us to be a mountain before us.”

“We remembered hearing about Rick Newman and looked up his website InnFinancing.com. I decided one morning to reach out to take advantage of his experience with the industry. Rick and I hit it off on the phone instantly and I knew right away how genuine and sincere he was about wanting to help us. From start to finish this individual is a class act. He stayed in constant contact with us, introduced us to colleagues in every area of the transaction and helped us secure and close on our wonderful inn in under 45 days, which I believe is a record in Asheville.”

“We would encourage any Aspiring Innkeeper to reach out to Rick early in your journey. His attention to detail is out of this world and he knows this business inside and out. We have heard from other Innkeepers in our area that they went through lender after lender, and that B&B sales can take up to 8 months to close and they still may fall apart for any number of reasons.”

“We had spoken to Rick almost every morning and felt like we were more than just his clients, we had become friends. We were so pleased when he decided to drive down to Asheville from his Pennsylvania home to be with our family on our special day.”

“We are now the proud new owners of North Lodge on Oakland B&B in Asheville, NC. Many thanks to Mr. Rick Newman.”

David & Kevin, Innkeepers & Proprietors
North Lodge on Oakland Bed & Breakfast
Asheville NC

“We started in October and missed 5 closing dates struggling to finance the purchase of Tall Pines Inn. We were told by every lender that we were well qualified, so we didn’t understand why we were having trouble securing a mortgage. We tried for months to work with banks local to the property.  It cost us money, time, and it was very confusing and frustrating, and we were really stuck because we wanted to close in time to make changes before the busy season started. We felt had such an amazing opportunity and we did not want to let it pass by.

We were truly exasperated and had all but given up when Peter Scherman suggested we call Rick Newman to help us, and in was the best decision we could have made. Rick really cared, and he coaxed and coached us along the way as we wrote our business plan; he also gave us a big shove when we needed it. We really enjoyed working with Rick, and still find it fun when he calls out of the blue to say “hi!” He is just a “down to earth” kind of person to work with. Yes, Rick can get the job done, he is worth every penny, but the best part, you are working with a friend and not just another vendor. We are thankful we brought him in to work with us.”

Michelle & Keith Frey, Innkeepers
Tall Pines Inn
Eureka Springs, Arkansas

“We never would be here as innkeepers of the Sheridan House Inn at the gateway to the Grand Canyon, with guests from all over the world delighting in our special brand of Arizona hospitality, without Rick Newman of InnFinancing. It’s a fact that most B&B owners don’t come from hospitality backgrounds, so walking into a bank and asking for them to loan money to people with no experience would be truly laughable. Hospitality loans are risky and very difficult to obtain, even for a property with good profitable P&Ls and history.

While you obviously must have the right property and have done your due diligence on it, along with spending untold hours preparing a business plan, the truth of the matter is most people don’t have the contacts to even get a foot in the door for the possibility of a loan. Rick Newman does.  He proved with our very difficult loan that if he chooses to work with you, and he only selects those he believes in, he will do everything he possibly can to secure financing.  And, he’ll do it with integrity and honest truth throughout the process.” 

Thank you, Rick!”

Mark and Debbie Santy, Innkeepers
Sheridan House Inn
Grand Canyon, Arizona

WHAT CLIENTS SAY . . .

"Besides being a key player in securing financing for our Inn purchase, Rick Newman was a voice of reason and sanity during the emotional roller coaster ride we call Buying a B&B.  My wife and I looked at B&Bs from …

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“The inn acquisition process was one of the most overwhelming experiences Brian and I have gone through".  …

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"Dear Rick, Dallas and I thank you so very much for your patience and professionalism in working with us on the refinance of our 1887 Victorian B&B.  For the past two years we have tried, with no luck, to re-finance …

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More Client Reviews

Aspiring Innkeeper Articles

8 Broads in the Kitchen’s Latest Cookbook:Desserts!

The 8 Broads in the Kitchen love to stir up fun in the kitchen!  They are on a sugar high, celebrating their 10th anniversary with the publication of their third and sweetest cookbook, Desserts! A dessert cookbook with stunning photos and mouthwatering recipes. Desserts! has a variety of treasures to satisfy any sweet tooth – from […]

Prequalification for a Loan

The Prequalified Buyer™ evaluation and designation provides Aspiring Innkeepers a credible way to quantify how much purchasing power they have as it relates to identifying hospitality properties that best fit their financial qualifications and professional/personal objectives. A Prequalified Buyer™ designation identifies a person or persons as having submitted, the required proofs and documentation for verification […]

Reporting Agencies and Credit Reports

Note: This material is being provided for general information purposes. This overview is intended to alert the reader to the importance of managing his/her credit. General guidelines, material, and other information are being provided as a courtesy. No representations or warranties are made as to the accuracy or processes covered herein. The Credit Tier Examples […]

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Upcoming Innkeeper & Aspiring Innkeeper Training Events

B&B Team Comprehensive One-Day InnKeeper Workshop

March 14, 2020-March 14, 2020
(8:30 AM-5:30 PM)

The one-day comprehensive innkeeper workshops include instruction, workbooks, lunch, and personalized consultation (to be scheduled for mutually agreed upon times, dates, and locations) for $125.00 for one person or $175.00 for two. This will be a fast-paced Saturday. We will cover the same material as in the full weekend seminar but without as Read More much time for exercises, questions, and tangents. If you can’t spare a whole weekend, this is a great alternative. Follow up consultations can be scheduled individually on a case by case basis. Instructors: Peter Scherman, Janet, and Rick Wolf or Marilyn Bushnell and Eliot Dalton. Attendees for the one-day comprehensive innkeeper workshops should plan on being at the host inn or class site by 8:00 AM on Saturday. We will start at 8:30 AM and run until 5:30 PM. Attendees are encouraged to spend a night at our host inn, but this is not required.

Cost: $125 One Person / $175 Two People
Location: Hampton Inn Airport West, Atlanta, Georgia
Contact: Eliot Dalton - The B&B Team
610-717-8083
Online Registration or Ticket Purchase


B&B Team Future Innkeeper Hands-On Workshop / Boot Camp

March 26, 2020-March 29, 2020
(2:00 PM)

This Future Innkeeper Hands-On Workshop will give you a clear understanding of the daily activities involved in creating a successful business. This boot camp occurs over 4 days, is limited to a maximum of 4 people.  Confirmation of completion of a level one class will be verified before an invoice is sent to you. Once you’ve taken one of our Read More workshops and want to explore Innkeeping in a practical way, or if you have made the decision to become an innkeeper, the real fun begins to understand how a bed and breakfast or inn actually operates to keep guests returning again and again. If this is the case, you may wish to sign up for this practical workshop. From preparing breakfast to cleaning rooms, our hands-on workshop will let you experience the steps involved to provide a guest experience that will define your inn. This boot camp occurs over 4 days, is limited to a maximum of 4 people, and occurs at Bed & Breakfast on Tiffany Hill where you will stay and work throughout the entire workshop with personalized instruction, workbook, (2) lunches, and (2) dinners included in the workshop fees plus private consultation within one year after the workshop. Attendees Innkeeper should check-in at 2 pm as the workshop will begin at 3:00 PM. Please plan to depart after 1:00 PM on the final day. More Details Pre-Requisite: You must have attended one of our other seminars or workshops or an approved substitute.  Instructor:  Linda Hayes and the host Innkeeper, Selena Einwechter and her team.  Email: lh@ijkpartners.com Workshop Location: Bed & Breakfast on Tiffany Hill, Mills River, NC. (10 minutes from Asheville International Airport)  Upon confirmation of your seminar registration, each attendee is responsible for booking and paying for their room by calling the inn directly and requesting one of the rooms held for this workshop. A 25% discount is offered for additional room nights booked beyond the required three nights and must be requested at the time of booking. Fees: $900.00 for one person and $495.00 for a second related person or person from the same property.  A confirmation and payment instructions will be sent directly to you upon verification of the pre-requisite. Cancellation Policy: If you must cancel your registration, please contact your instructor directly.  Since this workshop is limited to only 4 attendees, cancellation is requested 60 days prior, to receive a full refund. Any cancellation received within 60 days prior to the workshop will be refunded only if the space is rebooked. A $100 cancellation fee will be deducted from the refund. Lodging cancellations will be governed by the inn’s cancellation policy.

Cost: $900 One Person + $495 Second Person
Location: Bed & Breakfast on Tiffany Hill, Mills River, NC
Contact: lh@ijkpartners.com
Online Registration or Ticket Purchase


B&B Team Future Innkeeper Hands-on Workshop

March 26, 2020-March 29, 2020
(3:00 PM)

Once you’ve taken one of our workshops and want to explore Innkeeping in a practical way, or if you have made the decision to become an innkeeper, the real fun begins to understand how a bed and breakfast or inn actually operates to keep guests returning again and again. If this is the case, you may wish to sign up for this practical workshop. From Read More preparing breakfast to cleaning rooms, our hands-on workshop will let you experience the steps involved to provide a guest experience that will define your inn. This boot camp occurs over 4 days, is limited to a maximum of 4 people, and occurs at Bed & Breakfast on Tiffany Hill where you will stay and work throughout the entire workshop with personalized instruction, workbook, (2) lunches, and (2) dinners included in the workshop fees plus private consultation within one year after the workshop. Attendees Innkeeper should check-in at 2 pm as the workshop will begin at 3:00 PM. Please plan to depart after 1:00 PM on the final day. Pre-Requisite: You must have attended one of our other seminars or workshops or an approved substitute.  Instructor:  Linda Hayes and the host Innkeeper, Selena Einwechter and her team.  Email: lh@ijkpartners.com Workshop Location: Bed & Breakfast on Tiffany Hill, Mills River, NC. (10 minutes from Asheville International Airport)  Upon confirmation of your seminar registration, each attendee is responsible for booking and paying for their room by calling the inn directly and requesting one of the rooms held for this workshop. A 25% discount is offered for additional room nights booked beyond the required three nights and must be requested at the time of booking. Fees: $900.00 for one person and $495.00 for a second related person or person from the same property.  A confirmation and payment instructions will be sent directly to you upon verification of the pre-requisite. Please click here to complete this registration form.   https://bbteam.com/seminars/seminar-registration/  Confirmation of completion of a level one class will be verified before an invoice is sent to you. Cancellation Policy: If you must cancel your registration, please contact your instructor directly.  Since this workshop is limited to only 4 attendees, cancellation is requested 60 days prior, to receive a full refund. Any cancellation received within 60 days prior to the workshop will be refunded only if the space is rebooked. A $100 cancellation fee will be deducted from the refund. Lodging cancellations will be governed by the inn’s cancellation policy.

Cost: $900 One Person / $495 Second Person
Location: Bed & Breakfast on Tiffany Hill, Mills River, NC.
Contact: lh@ijkpartners.com


B&B Team Weekend Innkeeper Training Session

April 3, 2020-April 5, 2020
(4:00 PM)

The weekend session is our premier and most in-depth future innkeeper program and allows for more face time and interaction with your instructors. The weekend seminar package includes group instruction, workbooks, personalized follow-up consultation, meals, breaks, and wine and cheese reception. Dinner our first evening together is fun and casual; Read More Saturday night is a more upscale yet relaxed affair, and you are the guests of The B&B Team for both, plus your lunch on Saturday. The cost of your lodging during the seminar is additional, and we have negotiated a preferred rate for our seminar attendees. In addition to the seminar on starting a bed and breakfast itself, as a graduate, you will be eligible for a personal, half-day planning session with one of us at our office or over the phone. Attendees for the weekend seminars should plan on checking in as close to 3:00 PM as possible as the Opening Session will begin at 4:00 PM Friday afternoon. Please plan on departing after 2:30 PM on Sunday if you participate in the local inn tours or around 12:30 if you can’t join us, or we are not conducting a local tour. Click here for a seminar agenda. Instructors: Peter Scherman and Janet and Rick Wolf. Workshop Location:  Inn at English Meadows in Kennebunkport, ME Upon confirmation of your seminar registration, please make your room reservation. Each attendee is responsible for booking their room at the host inn by calling the inn. Please do not book online or an OTA (online travel agent). Tell them you are with The B&B Team’s seminar to receive the preferred rate. We suggest attendees stay at the host Inn but you are not required to. SCHEDULE FOR WEEKEND SEMINAR (see below for one-day workshop schedule) FRIDAY 3:00 pm Welcome and Registration 4:00 pm Opening Session: “Getting to Know You and Us” “Innkeeping 101” 6:30 pm Dinner together SATURDAY 7:30-8:30 am Breakfast 8:30 am Session Two: “Creating Your Inn’s Profile” 10:00 am Break 10:30 am Session Three: “Acquiring Your Inn: The Process” 12:00 pm Lunch 1:00 pm Session Four: “Defining and Finding the Right Property” “Lifestyle and You – The Personal Side of Innkeeping” 3:00 pm Break 3:15 pm Session Five: “Property Assessments and Valuations” 5:15 pm Afternoon session ends 6:15 pm Reception with Host Innkeepers 7:30 pm Dinner together SUNDAY 7:30-8:30 am Breakfast 8:30 am Session Six: “Marketing 101” 10:00 am Break and Check-out 10:30 am Final Session: “Operations-A Day in the Life of an Innkeeper” “Final Questions and Answers” 12:00 noon Finish   Cancellation Policy: Any cancellations received with 21 or more days notice before the seminar will receive a full refund less a $25.00 cancellation service fee. Any cancellation within 21 days prior to the seminar will receive full credit for a future seminar. Lodging cancellations will be governed by the Inn’s cancellation policy. Seminar participation is limited to ensure the appropriate level of personalized service you expect and deserve. Seminar registration is on a first come – first served basis and, should the seminar be full, we will advise you immediately and place you on a priority waitlist. Please do not hesitate to call or email us with any questions you may have regarding this seminar and the other services we provide for Aspiring and Current Innkeepers.

Cost: $375 for one person and 495.00 for two people
Location: Inn at English Meadows in Kennebunkport, ME
Contact: bbteam@bbteam.com
Online Registration or Ticket Purchase